If a large bank like Wells won't do the loan, I would fancy to say you will have issues getting commit to close from another.

Don't spend your money on a fancy car, save it for your next house.

You'll think it was too late coming and it will be years before you get the perspective that it's still ahead of many of the other people at your level-You'll finally learn to dress well when you're 36.

Do the minimum renovation to start and get it rented and then wait to dress it up some more when ready to sell, but that needs to be a quick turn around so you don't wait too long to capture that equity and extend your risk of enduring a market correction any longer than you have to.  

At the point in time a business sells inventory, the corresponding accounting entry is "Cost of Goods Sold" which is a fancy way of recognizing the expenses associated with that inventory.

since your buying low value land you don't need anything fancy. 

Turn up in a fancy BMW in a suit, and expect your quote to reflect that as well.

When I explain wealth accumulation through real estate, having other people purchasing property for you, it sounds fanciful and I get a lot of rolled eyes.Forget 'em.

Even if you don't get fancy with it, you'll save tons of money and have access to more.

Budget is important, but so is buying a quality home (not fancy, just solid and in a good area).You said your plan is to buy more rentals, so use that money as a down payment.