There are many other fun things not shown: Complete rewiring of all electrical, including new meter base and panel.Lots of attic and crawlspace work.Insulating walls, attic, basementAnd so many other random tasks that eat up hours and days, even though it seems like nothing at all is getting done. 

Expenses including CapEx is at 39%

Lincolnville is way over priced now that the hipsters have discovered it and of course it was flooded during hurricane Matthew...now the city might make you bring the buildings up to code which can include lifting the houses up ....I would be very careful about any "deals" that suddenly pop up ...here is an article that explains ithttp://staugustine.com/news-local-news/2016-10-28/hurricane-repairs-st-augustine-flood-elevation-standards-could-be-concern

It is hard for young people (myself included) to get into the investing world without any experience. 

PMI, sure, why not, i would try to include it in their payments, just like the banks do.

The roof, master shower, and carpets throughout need replaced, and although the property is structurally in good shape and the AC\HEAT is in good condition, the house has never been updated to today's modern look.I want to walk away with 40,000 in cash but I am afraid that after the projected closing costs of $13000 that include the realtors $9600 commission I wont get the $40,000 because it needs a roof, shower, and carpet.   

SEO is one way to go but there are several other options to drive traffic to your website including Pay Per Click, Facebook ads, Craigslist, email lists etc...

There were many issues including some non permitted rooms that had been put in by the previous tenants (a business). 

Your local Realtor association probably offers classroom-style training included with your annual dues.#2 Most lessons come from actually doing business i.e. transactions.

I just sent you an email including the link.