Order from worst to best

[Justin A Edmonds]

So I am still doing some analysis on what should be the first type of property I invest in as a rental property. I live in Delaware but my roots are in NJ. With this information, how would you personally rank the best type of properties to purchase for the purpose of rental investments. From worst to best and please explain your reason for order. Also, if I failed to mention before, I am a beginner and this would be my first property. 

[Rumen Mladenov]

Fellow DE investor here. I like to stay local and self manage, so all my properties are within 20 minutes drive from my house, most are actually within walking distance. 3-4 bedrooms seem to be more in demand than 1-2 bedrooms. I stay away from condos, and I stay away from areas where I would not be comfortable living myself. So, to rank them best to worst:

1) 3-4 bedroom property in your neighborhood you can buy in distressed shape and fix up yourself

2) 3-4 bedroom property in a decent neighborhood within 20 min drive, or 2 bedroom close to you 

3) 2 bedroom in a decent neighborhood within 20 min drive

4) Condo

5) Property in a high-crime area where you would not want to live, or drive to do maintenance/collect rent

If you plan to use property managers to deal with the tenants and contractors for the work, the situation will be different. This is the ranking for my business model.