Minor cosmetic improvements.

So, I gather the only professionals I'll need to assist me are...An inspectorAn attorney (for title search and closing - North Carolina is an attorney-closing state).Does that sound right? 

@Nana Nkoah Try searchIng Facebook / marketplace, that’s how I found mine.

My real estate experience is limited to me searching for and purchasing my first home in 2007 (primary residence) where I basically did all the leg work (agent only arranged showings and handled paperwork) but that is where I fell in love with the business of real estate as a whole.

I’m not sure what the rules are on this website, so I don’t want to overstep my bounds, but you can find the YouTube video with some more info by searching “Cambutal 308 acres”As far as utilities go, the property has a natural water source and city power is less than a km away. 

I made it clear in an addendum I added to the lease that it was an unfinished basement and any and all improvements that they want to make or do make have to have prior written approval from me or my husband as well as permits and insured licensed contractors for electrical, plumbing, etc.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcast Wishing you the best!

In order to improve that return on asset you have to either leave the market to go where you can get a better return or you have to leverage. 

But for those who decide to keep the property, they often go in search of a good property manager to implement their grand plan of maximizing rent in search of the coveted passive income.

If the improvements made were substantial then I might also provide invoices paid to contractors as well as a scope of work to justify financing at a value much higher than my initial purchase.10% vacancy is definitely higher- if you've got a stable property that meets your markets rental demands then I would use your market's going vacancy rate (which may not be representative of your EXACT asset).