Our first two projects were conservative by choice and combined yielded in excess of mid six figure return. 

I like Bhargav's suggestion, maybe using a combination of leverage and cash if you have $1 million. 

His & my verbal conditions were he move in and we'd take care of bills combined while I took care of the mortgage for the year, then I'd refinance.

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

Make sure the furnishings are modern and functional.

The search functionality seems to be keyword driven. 

You can raise the deductibles; you can make it actual cash value or functional replacement cost! 

DSCR portfolio loan that can combine SFH’s within a city and some potential rural SFH’s.

And also know that if you make more than $200-250,000 in combined investment income in a year there is a 3.8% Medicare surcharge on top of that 22% or whatever percentage.Best advice - start with a very cosmetic flip.  

There is also a building that was previously used as a recording studio with a half bath (that isn’t currently functional).It needs some work.