I pay as much for landscaping on that property as my 5-plex.

Potential buyers, myself included, will see the complete lack of landscaping, the neglected interior and be optimistic that it’s a good fixer-upper.

Vacancy Rate (I put in 8% to be conservative  = $140 p/mo), Property Management (usually 10%, I usually don't put this in my calculation because I self manage but it is a good practice to put it in so you can see if the numbers work if you decide you want to pay yourself that fee, or if you decide you want to hand it off to a PM after deciding managing the asset isn't something you want to do = $175 p/mo), what, if any, utilities will you be taking care of - I am assuming it is a SFH and that the tenants will be responsible for them, will they also be responsible for landscape maintenance, or will that fall on you?

Land acquisition, utility hookups, foundation/driveway pour, new hvac/plumbing/electrical/roof/siding/windows/landscaping - and that's before you even start paying for stuff to put it together inside.  

If you have a method that you know works for the SFR landscape I'd probably stick it out in that realm.

Some examples of real estate risk management would be: Using debt responsibly by not over-borrowing or putting up multiple properties as collateral for a single loanConservative and defensible investment underwriting assumptionsWell-defined investment strategies that are transparent to investors and able to be continually monitored through investor reportingChanges in the regulatory landscape make it clear that investors must be proactive when vetting potential real estate investments.

Their rehab of a unit generally runs $700 at most for new appliances, flooring, paint, etc.The common areas, landscaping, and exterior have been upgraded and re-worked in the last six months.  

And Land improvements, landscaping, pavement, fencing, etc. can be depreciated over a 15-year period

All of the boring stuff:  repainting, cleaning the kitchen, repairing fencing, landscaping, changing locks, etc. 

it was 7 acres... 300k in landscaping and water feature... house was sheet rocked so that included kitchen all surfaces  appliances  150k in solid walnut paneling etc etc.. we paid 1.7 for it put 1.5 in it sold it for 5 mil.. best flip gross dollars that I personally have done.