Hi @Martha Bueno , The project is very doable, I've been working on this for a while with one ongoing project in Florida as well.Also like Matthew said above, please check with your local government first. 

But after I ran some numbers (these are only estimates) I would expect your closing cost to be closer to $5,000-6,000 (origination fees, appraisal, survey (if needed), closing, doc prep, attorney fees, flood cert, title, prepaid insurance/taxes/mortgage insurance, and initial deposits to escrow) Paying 15% of the value of the home in closing costs is pretty high.

It sounds like a fairly unique property so it might be hard to get an accurate ARV, but still, you need to narrow it down a lot more.If you're hellbent on going for it.

Common utilities, ongoing landscape maintenance, professional services costs were what I was wrapping into misc. expenses. 

Thanks all for listening and we look forward to ongoing discussions, and hope we are all soon congratulating each other on succeeding at endeavors that others deemed too risky to attempt! 

That got me to thinking (there's my first mistake), and I ran the numbers applied to time, and came to the conclusion I better put a plan together to make it happen. 

I ran the parcel number through the county website and got as much information as I could. 

Since I always enjoyed painting homes and owning homes I thought I will look into real estate investing.Unfortunately in my research I ran into the real estate gurus, I signed up went to one of the weekend training events (which I had to pay for) and was all pumped up until they said,"the next level of training is $20,000".

This eliminates about 90% of friend rentals and those that do rent together rarely have issues.If you don't have higher standards,  you'll see something I ran into a few years back.

Just drove by my rental in Las Vegas, and it looks like I'll need to replace a small (very small) tree and a couple other small plants and clean some drip lines no longer needed, and then ongoing periodoc maintenance thereafter.Anyway, if anyone knows of a service provider they like for this kind of service, I'd appreciate it.