Adding  about 2.5% closing cost of 17.5k will bring you to about 50.5k (rough estimate) out of pocket. 

If a Cost Segregation Study had not been performed on this $60,000,000 multi-family property located in Murray, UT, it would have had first year depreciation of approximately $1,963,636.

Hi Nina.If I were not experienced in land lording and property manager, I would look personally to the extent you want to learn or experience property management versus hiring someone else that you trust to do the job.Yes, the cost for a property manager is important but not essential- the cost between property managers are not double or triple the cost of others (say like attorneys in some areas of law or cars). 

When you have a loan on an RE, you have it leveraged meaning you “own” it without having “paid” the full cost.  

I think mine cost about $1200.

I expect to add to the cost of the replacement property.

I am very new on this business.

@Daniel Tkach you need to be working with someone that does rehabs themselves to be able to tell you how much it's going to cost after walking it.

The appraisal came in at $120k where the purchase price was $78k and $22k reno cost for all-in of $100k.

If you have $50k to invest then you will probably be looking at properties in the mid-to-high $100s (assuming you're putting 20% down + closing costs and a little cushion).