Just got cited myself, on a property I get wholesaler invites for weekly. 

This is my day job, and in my home town, and I have plenty of first-hand experience with your local judges; If your lease is correct, you can trust them not to reach a security deposit issue before it is ripe. 

@Rusty Shafer If you use the same flip strategy on a 3-4 unit multi family home, you’ll be in amazing shape, with plenty of cash flow no matter what you choose.

If your newer to the real estate game and are interested in meeting like minded people then shoot me a PM and Colleague Request and I'll invite you to the group! 

If Texas, I plenty of connections for you. 

Also i would like to invite experts in that area to give some inputs on  costs involed,  steps and gotchas to be aware of ?

Funny looking at their faces when they see it is vacant.Lastly, I was invited by a guru to come to a training to help with one part . they rented me a car.

Then you can record your expenses there and it makes it easy for you and your CPA.Regarding startup costs versus expenses, there are plenty of articles you can find on the subject with a google search.

There are plenty of teams looking to expand in your market.

Presentation and management style matters A LOT, in my market there's plenty of rental histories that are low on properties that can and will perform very well when managed properly.Check out comparable properties and see what their rates are at for different seasons.