A really cheap property that needs a lot of rehab has to be managed.You also need experience rehabbing,Material shopping, permits, managing sub contractors, order of operations, managing payments, checking work, and accurately projecting all of those numbers in the first place to make sure you get a good deal.Best bet is to buy more of a turn key rental for your first purchase.

let’s say approximately $20,000 of labor and materials to get the property in livable condition.

While there I saw that they have boot camp and lots of material to get a grasp on this subject.

I don't have a lot of money for marketing materials but what I lack in funds I can make up for in effort.

Less expensive materials, but more expensive to install the ductwork.

Additionally, if anyone has any must reads or must see learning material please leave links or information. 

Anything that can help me get involved with hands-on experience I'll donate my time.I can also design and build websites, marketing materials etc (I'm a full-time professional designer and web-developer).If you are in the Houston area and have an opportunity for me to learn and give you a helping hand, please reach out!

He told me material would cost $1200 and and labor would be $5000.

I hope it will materialize.

These items that are available to you and GC are very very helpful to make sure all are on the same page.You will want to include:- Term of Coverage Needed (Start and End Date)- Construction Material (Wood Frame vs Steel Frame example)- Occupancy of Building- Stories Above and Below Grade- Sqft of BuildingQuick Thoughts that should be helpful:- Start of a Builders Risk Policy: You typically want to start a builders risk when you are mobilizing or when you have materials at site, whichever start first.- Do you want Earth Movement, Flood or Named Windstorm Coverage, what sublimit will you be looking for if so.- Do you want Delay in Opening Coverage?