I don't want to bite off more than we can chew with managing a full reno while we learn the ropes. 

Valuable and soon to be life changing profitability Lessons learned?

I’ve done two rehabs from out of state so far, and I can relate to the challenges you mentioned.One thing I learned the hard way is that managing rehabs remotely can be tough.

What we've learned is that Sec 8 residents would usually stay longer than a non-Sec-8 resident.

you have to learn land entitlement. we identified a site today for hotel development that was an 18000 sq ft lot.

Anything 2-4 units is good for a first one, but its worth paying extra to be in a good area so you can learn how to manage your property.

You need to learn how to analyze property and determine if they are a good investment.Here's a guide that describes how to analyze a property.https://www.biggerpockets.com/blog/rental-property-cash-flow...

If you're running a fix & flip business, you'll eventually want to learn how to estimate repairs and independently prepare a scope of work.

my last post on this subject.I ran into a small company  6 folks involved  boy friend girl friends  they read rich dad book then went to a guru presentation and learned about wrapping notes which of course is the bizz model your talking about.

It's an amazing place to learn and grow in real estate.