You should only consider the advice when a vast number of people are giving similar advice. 

Living in California and buying in Maine (where the vast majority of the properties are considered rural) and then trying to use private money is going to be a monumental task.Best of luckStephanie

I currently own 2 properties but still feel like a squid in this vast ocean of information.

Changing any type of structure will make you conform to today's codes such as electrical and plumbing to make sure that it is sufficient for the amount of occupants.

This situation wouldn't exist in the vast majority of states.Investors can learn the laws and do better than an amateur but they will always be at a disadvantage and always flirting with disaster because it's heavily regulated, litigious, and the courts and attorneys are primarily leftists.I know an investor that bought houses and apartments back in the 70's so he has 40 years experience and was worth about $30 million.

Evidently the costumes weren't sufficiently scary, Wall Street is helping make up for it.

The vast majority of those coming on here eager to invest have done zero planning and have nothing but a dream as you suggest. 

If you don’t have enough funds as downpayment to get sufficient loan then just go back to square one and try to save save save or partner with someone.

It's not an unfair stigma to say that the vast majority of fix-and-flippers live and breathe this mentality, it's just an inconvenient and ugly truth about real estate that everyone who's in the industry quietly acknowledges or loudly denies.

Next, you should have sufficient insurance of the appropriate type.Managing the property takes more than a wink and a smile.