I am a new investor to real estate, residing in Southern Maryland.

Might be tough from area to area, but I typically find that homes built before 1950 that were converted from single to multi family are 9 times out of ten - a full gut rehab and way too expensive for first timers.

What is my real budget here?

This seems to be less of an issue especially since when an LLC borrows for real estate at minimum the principles/owners personally guarantee the debt anyways. 

Ensure thorough due diligence, check the 1st lien status, and consult a real estate attorney to understand the risks before proceeding.

Commercial loans often have different terms, such as higher down payments and shorter loan periods, compared to conventional loans.Here are some steps you can take:- **Consult with a Commercial Lender**: Talk to lenders who specialize in commercial real estate loans.

What does Baltimore offer , it has rental inspections , highest property taxes in the state , worst schools in the state , high crime rates , higher insurance rates , longer time to evict tenants , slower appreciation .

There are plenty of real estate groups where investors are actively looking for properties.

I am looking at my first real estate investment in the Clearwater Florida area 33756 zip code in Pinellas County.

I run a call center for real estate, would love to give you some pointers