I assume people are going to want rental-grade finishes, so your budget should be enough for the down payment, enough for reserves, enough for rehab, enough to cover costs when you don't have a tenant, etc.If you have $12,250 saved (3.5% of 350k) and THATS IT, I'd argue you are still nowhere near ready for a property like that.

the house is clean finished and the tenant lives there want to stay.

.#2 Explore Lowes and Home Depot to Learn About Material PricingTake a tour through Lowes and Home Depot (or their websites) and look at finishes materials and fixtures that you will consider using in your rehab projects.

I just finished reading How to Invest in Real Estate.

Site work should be limited and that will depend on the design and finishes.

Its 5" decorative that has been painted (3 coats apparently) , drips all over it.. i would have to sand all of it.. there will be plaster repair after removing it.. not a concern, I can hang and finish drywall..

Properties with in-law suites aren't the most common type so you may have to find a place with a finished/unfinished basement and do a build out.

Just finished a flip in Covington.

One option is finishing a basement and moving into it and then renting out the main house as a short term rental.

Please walk me through your acquisition process, from start to finish.