I wouldnt skimp on the commercial high capacity dehumidifiers.

Their actual work was alright, but they definitely skimped out on a few things and had some other items that were done a little sketchy.

I don't plan to skimp on things that, like you said, can put me at substantial risk.

Skimping on a few hundred in fees could cost you a few hundred thousand later on.

It must look really nice.I agree don't skimp on the mattresses or couches and used is pretty gross anyways.It does in fact depend on the type of property for sure.

A lot of people skimp on insurance but if you get a sue happy tenant with a good lawyer they can take it to you just simply defending yourself and if they are successful it can ruin your net worth.

Often times business partners skimp on their operating agreement and may not even consult an attorney, then when things go awry it costs ten times more (and can drag out for years) to resolve.

Don't skimp on research of rents in your neighborhood.

You still have several options, depending on if you want to invest directly in individual properties or be a bit more removed:Full-service turnkey investment: Should be mostly passive after you do your due diligence and pick a provider, but don't skimp on your homeworkYou choose which props to purchase, but have no control over tenanting choices, some say in large maintenance expensesAvg cost for solid B/B+ prop in Birmingham (and some other markets but this is the one I have data for, since it's my market) is about $100k per door; you'll pay market price for a tenant-ready, fully rehabbed propertyPartnering with someone who does the on-the-ground stuff while you provide capitalCan be passive if your partner really knows their stuff, but more likely you'd be fairly involved with the choices madeMore control since you call the shots with your partnerYou can pick which markets and price points you're interested inPotential for higher returns (ie buying distressed and then forcing equity through renovation) if your partner is experienced and can execute consistentlyInvesting in a syndicateMany investors pool funds to invest in much bigger projects like commercial space or large MFRs, or in larger portfoliosVery passive, investors are not responsible for project vetting or management, but you have no controlMay have higher bar for entry, some syndicates require large investments and you'll need to have liquid cash on handBuying shares in a REITLike an ETF but comprised of real estate investmentsVery passive, but no control over which assets are held in the fundHighly liquid, easy to buy and trade, lower bar for entryEverything is a trade-off between passivity and control, time and money.

Good liaiblity policy on the property (don't skimp)2.