Depending on how intense and unforeseen issues, that can bite out a huge chunk of 50k alone.

Just string him along with vaguely encouraging noises until his contract expires. 

For anyone commuting to NYC I would think it’s a major benefit...but other may not want to deal with the noise, etc.

For example, how much is it worth to you to make the rules of the home, or how much is it worth to you to allow your kids freedom to be kids (run around and make noise) without getting scoldings, etc. etc.  

Looks like I'll be playing devil's advocate here as compared to most of the responses...There are a couple undeniable points people are making-- you can get a ton of info on BP, the Rich Dad courses have intensive amounts of sales pitches intertwined in them, and it is very dangerous to jump into one of those expensive courses. 

It might depend on the view as well as noise.

my best advice to find "buy & hold" deals in Jacksonville or prolly anywhere else is to "tune out the noise"...1. find one good realtor that's all you need, and that's only to help you close the deals you MIGHT find on MLS.2. real estate attorneys, brokers and appraisers honestly serve absolutely no purpose to helping you FIND buy-and-hold deals.

But for all intensive purposes of this thread..if I had 50k I would start with a single family, duplex or fourplex depending on how expensive your market is.

I guess I'm not so much asking whether the stated figures are what expenses are currently being incurred, but asking whether my adjusted figures sound realistic and achievable after my intensive "intervention".

Setbacks from property lines, plans, working with neighbors, noise, subs.