Also utilizing rehab stores like the Restore can help as well as looking at alternative construction materials. 

This includes make ready repairs, WO, cleaning, utilities, landscaping, and capex (not much) etc.

Can I create a legal document which allows the neighbor to utilize this land with the understanding that it is legally mine.

@Ray Reed Supposedly the house is a legal 3 family has all utilities separate.The price they are selling it to me I get everyone telling me that it’s a good price for this market. 

It would be a shame for tenant and I both to not utilize these programs.

The numbers I've ran show there are several units in my areas generating +$1k month in positive cash after paying all expenses (mortgage, ins, taxes, any utilities & 1mo vacancy/repairs, self managed) using anywhere between $45k-$55k down to achieve 20% on a 3% conventional loan. 

Does the building have split electrical/gas utilities? 

Looking for some finance advice on this question to make sure I do it right and don’t get into some weird tax situation:I have a HELOC on my primary residence (held in my own name) that I would like to utilize to buy some deals.

I was curious to see if anyone had any suggestions on the best financing to utilize for our first investment property.

Pay out mortgage, taxes, insurance, utilities, maintenance, management fees, etc.Savings: transfer the security deposit(s) from checking to savings and hold them here so you don't accidentally spend them.