If the land is worth $200k, then you could pay the other $30k out of pocket and finance just the land. 

Creating a scope of work is the key to estimating rehab costs.

I bought a small commercial property in LA County.

Sounds like a good learning investment!

Found on the MLS with zero interior pictures and listed AS-IS.* Asking price was $525K, we lowballed at $460K.* They dropped to $520K, we countered with $465K.* Our agents met and we learned that the lowest they'd go was $510 because of a HELOC* We offered $520K with $10K seller credit to be used for closing costs.

I have already talked to a private lender of mine that tentatively agreed to lend on the deal.

Usually, owners will look a little more kindly on MTR because it's less wear and tear.

Is this a long term rental?  

With such low rental yields, the return on investment (ROI) and cash-on-cash (CoC) return are negative when factoring in mortgage payments only, not including any other factors.In this market, it seems almost impossible to make a profit using traditional rental property investing strategies.

Here I have contact info, lease info, AC filter, trash day etc plus all the income and expenses.Then I have a Master tab that has all properties, so I have the big picture of gross rents received.