Happy to offer my opinion but you know your life best so keep seeking opportunities that you're over-looking.Unfortunately, hard money or private money looks like your best bet thus far.

Best bet would be to walk a couple contractors through and see what the estimates are.

Rich Dad Poor Dad from Robert Kiyosaki is also an inspiring book to get you in the right mental state.And besides the BP podcast, The Real Estate Guys podcast is another great source for learning as well.From a new aspiring investor to another, I wish you the best of luck in the future! 

Remote professional relationships are very common.That said, your best bet locally is @Steven Hamilton II.

I want to quickly start out with just a fast background, discovered Poor Dad, Rich Dad end of 2019, immediately hooked and mind set changed + blown of the opportunities in REI.

Poor choice of wording on my part.

In the way I'm discussing commercial loans for a SFR it is synonymous, but I think some people refer to a master loan made for a portfolio of properties as Portfolio Lending, so there's bound to be multiple meanings floating around.I find loans to an LLC to be easier than to a person, but I bet that is because I have some incredible vendors that I have built trust with AND I am not a W-2 employee. 

I'd budget 12-15% combined with repairs.I bet you can get management for closer to 8% on a 16-unit property.Insurance looks very low for a property you expect to be worth $500k.What about water/sewer?

The risks are the risks you have with an investment - poor Mgmt, recession, etc. else RE is the safest investment else banks wouldn't lend on it (they don't lend you 80% leverage on stocks bonds or mutual funds).

Then, I came across Rich Dad Poor Dad while I was browsing through social media and decided to read it/listen to the audiobook as well.