I try to copy the type of structure thats working (changing the elevation) and use those as comps when I go to use a DSCR loan on the back end to pull money backend.Knowing what strategy you are going for would help me direct in a more accurate way.

Typically, the seller wants it done fast and cheap, which often does not equate to the quality you would look for as the owner.But, it is possible he wants to do the work because he has top quality contractors that will do the work well and for less money than you could yourself.  

If you rent by the room, you should be able to save money for the next place or sell it.  

That is a lot of money to only make 200-300 dollars a month.  

Do you lend your money or broker other peoples money? 

Look for a market that works for your time, money, energy that moves you closer to your goal of why you are investing in real estate. 

Is it worth fixing up (all properties should be fixed up before moving on to another to avoid repair costs later when you have more leverage) or is it worth selling in an imperfect state for less money (and harder with a tenant).

Or the idea that lenders want to foreclose because they are going to make all this equity or money nothing can be further from the truth. 

Money from an old 401k can be moved to an IRA.

If you have an in with Grant Cardone I would ask him where to stick your money.