The cost of installing utilities is considerable and add almost no value to the land... that increases risk considerably. 

It's not just about the money; it's about understanding the property considerations and seller motivations.

Taking this into consideration, I would appreciate any advice as to how to approach my first investment.LLC or Individual: I am also looking for any guidance regarding the pros and cons of buying my first property in an LLC, or in my own name.

Oklahoma properties, especially in the OKC area, often have underwriting considerations around wind, hail, and roof age that can impact both coverage options and premiums.

At the same time, I’m trying to balance that protection with practical considerations such as financing, ongoing costs, tax treatment, and administrative complexity as the portfolio grows.I’d really appreciate hearing from those who have already gone down this path—what structure did you choose early on, what worked well, and what you would do differently if you were starting over today?

It is so different from Canada where someone told me the actual effective tax rate when you take everything into consideration is 70%.

Hello Joe, it’s about $420 before consideration for repairs and vacancies.

If he doesn’t we will definitely take all your suggestions into consideration.

Taking this into consideration, I would appreciate any advice as to how to approach my first investment.LLC or Individual: I am also looking for any guidance regarding the pros and cons of buying my first property in an LLC, or in my own name.

A 1200sf property will cost half as much for paint and carpet, but rents for more than half a 2400sf property.Another consideration for you are capital gains taxes.