Your best bet to find a BRRR deal (or even a flip deal) is to connect with off market resources (wholesalers, agents that specialize in this space), or to cut these people out and source deals yourself.

Obviously I want the largest return possible but I think the priority for my first one is something maybe more on the safer or stable end of the spectrum.

I suspect at 5 million cash investing in long term municipality bonds at 3.5% yield (but tax free) which gives 175k/yr post tax is probably your best bet, but it depends on what lifestyle you want.

Also from what I've gathered it is safer to have a rental property in an LLC.

That's probably your best bet, but it'll take a fair amount of digging to find a worthy one in a zone that allows it.

@Landon LehmannI bet!

For first time investors, i think that the BRRRR strategy is a pretty safe bet.

Your best bet might be to check with Planning and Code.

But I bet that cool Smurf Blue body paint you have costs plenty. 

Your best bet is to run for the board every year until you are elected and then work to repeal the fee.