So really only need about 40 to 50 K if you really wanna make the other property cash flow well. 

In regards to the numbers you're calculating they seem to be relatively conservative in my opinion, to be direct it's more than I use for homes that are in good condition.

I'm sure there are likely articles and posts on the BP blogs about this very topic, don't be hesitant to check those out.  

Now that you have the property purchased in the way you did, what are you looking to fix with an LLC that owns the property?

You really have to know how to do your numbers.A lot of that may come down to the property taxes.

Welcome to the exciting journey of real estate investing in the Seacoast and surrounding areas!

I am looking to join a mastermind group.

We do have plans to add a 'park style' grill, picnic table, maybe a few fire rings to make for more sites, but still aiming to keep it simple and cheap.

However, we typically use the FHA-203k loan because it involves a renovation, which I highly recommend if you are looking to really boost your equity and have the cost of the renovation wrapped into your loan with a VERY LOW AMOUNT OUT OF POCKET.I like the FHA loan, but honestly, the Fannie May Home Style is an even better product at this point because you just have to bring a bit more cash to the table 5% vs. 3.5% (w/ FHA), but you have a bit more flexibility.  

Because I live in a neighborhood that has no crime but it shows up as very high crime because we had two neighbors who would call the cops over each others dogs barking so it lit it up to show it as negative…