I evaluated a few properties in my price range at the time I was looking, decided on a property and then did some market research to make sure the market would be a good market to invest in. 

This is why you must evaluate properties not strictly off intrinsic #s like people did in low rate era.

Maybe you are able to learn and develop the skills needed to execute effective marketing strategies, find motivated sellers, evaluate properties and what repairs are needed and the costs, structure deals for distressed properties, make effective offers, know how to properly fill out As Is contract, build a buyers list, market property effectively to buyers if wholesaling, negotiate price with buyers, and using the right title company and getting funding to wholesale the property.

Gut saying try to rent for a year and then re-evaluate.  

I'm seeking insights and guidance from professionals with expertise in residential development.I'm looking to understand the essential evaluation parameters for residential development opportunities and learn about efficient quick & dirty underwriting.If you have relevant experience or knowledge, please reach out.

Some of which can be estimated without any fuss but some of which might require a specialized contractor to evaluate and estimate.

Overall they gave enough info to evaluate, buy, and operate a SFH.The multifamily part of the seminar had far less details and was centered around the importance of the right team and mentors.

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.These syndication can provide an 8%+ cash-on-cash return - providing you monthly cash flow - and a 15-20% IRR over the length of the project.

For example, if you are evaluating a flip that you know you can turn around in 3-4 months or a BRRRR (value add and refinance) and you run the numbers and even with the HELOC interest you will still make a good profit, in my opinion this is the best use of that line of credit.

If I were in your shoes, I would first evaluate the area, and if it fits my criteria and I know what kind of tenant I can put in there I would continue to the next step:Finding out how much it would cost to rehab and what kind of rents I can achieve.