My sister has a 100x84 ft. lot (Home burned to the ground).

They had smoke stains on the walls, burned old blue carpets, pink bathtubs and garbage everywhere but they just trusted that I’d make the old units look like the one I had just finished.

But I strongly advise you start slowly and move one step at a time, it will show others you are serious and also help keep you from getting burned by ensuring you properly analyze deals.

I have seen some go to tax deed auction that have been burned, but if you just Google Maps drive it, it looks good. 

That way if I am driving there repeatedly, forgot something at home, etc I am not burning myself out on commutes.  

Once done, and you are set up properly, I would suggest to either burn the checks - so you cannot load up on debt on these lines of credit, or if you feel confident, use these lines to buy a low priced rental - and this will be your financing for it.

If the 150k is burning a hole in your pocket and you need to put it to work, I have some ideas for you in new, multi family housing w property mgt in place.  

v=ZBseD64Lt0cAs some 200 FBI vehibles storm Ranch in Burns, OR it's quickly starting to look like the next 'Waco'-like federal siege in the making.

Now, my BURNING PASSION is to:-revitalize this area with rehabbed properties that add value to this great community-Specialize in rehab and multi-unit dwellings (flip as well as hold)-Do the work of MINISTRY by creating training opportunities for the disadvantaged and the unemployed to work on properties doing demo/clean-up/trade learning. 

If it's wood burning, then I would address chimney issues and make sure tenant knows what purpose the flue serves.If this is a house, good idea to have a fire extinguisher.