But higher interest rates and tough markets can cut returns.

The property hasn’t pulled in a lot to cover the cost but for safety I can manage fixing some within budget. 

Crazy.To be quite honest, if you don't have any experience at all, I would avoid AT ALL COST raising money.

it doesn't cost a lot to put utilities and parking pads in or even entitle it or to purchase land. it's just a lot of work that no one wants to do. parks are hard to get approved but they are not expensive to develop. it's nothing but utilities and parking pads and an office. harder to finance too, but compared to apartment development or mixed use development it is one of the cheapest and highest performing assets because of reduced construction costs. 

I was surprised at the cost $14,750.

also, spend the money on professional pictures. it shouldn't cost too much and you don't get a chance to make a 2nd impression.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Money is made on the margin aka the cost of money to you versus what return you can get from using that money.

How else are you going to cut a check? 

Usually investment properties will want a 20-30% down payment in addition to closing costs, so it's not going to be a good idea in your current state.