First Rental Property....But What Type?

[Nick Thomas]

Hello BP, as I am looking at different options for investment I was hoping to get some opinions from the community about what type of rental property is the best investment. I realize factors will play a part in one deal being better than another, but I just wanted to hear personal preferences and why. The types I have thought of are Vacation Rentals, College Rentals, Family Rentals, and Bachelor Pad Rentals. Which type would you prefer for a first cash flow property and why? Thanks.

P.S. What would you say is a good goal for yearly cash flow on your first property and what factors play a part in making or breaking that goal?