Also, I would be very concerned with thinking you can DIY your first renovation.

Run  some 220V wiring in pvc underground (licensed electrician) to power a good pump if you have space/amperage reserve in your electrical panel. 220V requires less current to run than a 120V for the same power, so it's more efficient.This guy has a lot of good videos on diy yard drainage systems.

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

A good property manger should be able to cover their costs in lower vacancies, lower maintenance costs, and better quality residents.Crappy tenants seek out DIY landlords because they know they can get away with things a good professional manager would not tolerate. 

I'd look at doing development deals as well. you can do joint venture, non recourse debt above 5 million in construction. we do deals in Columbus Ohio and miami florida if it is of any interest. columbus cost per door is much lower than in miami and we focus on micro units under 600 sq ft mostly for development to get higher density, higher lease prices per square foot, etc. there is a "affordable" housing deal that has 336 sq ft studios in columbus that gets about $995 in rent which is above $3. the normal single family rental gets in the $1.6 or so range even new construction 

You are likely looking at a Syndication or Joint Venture model.

You should make sure you are looking at what is going to make the best sense to you and make the move knowing this is going to be a purchase and investment venture for the long run.

It use to be necessary as a DIY landlord to have a set cleaning fee in the lease that could be deducted from the security deposit at move out. 

The inherited property seems like a valuable opportunity for you to venture into real estate investing.Considering your interest in small multifamily properties for long-term cash flow, that's a strategic approach.

Are you planning on venturing out of state or keeping it local?