I went back to Memphis last year for the first time in six years to find all is as advertised with very minor exceptions.We have picture inspections done every four months, cost $75, because I'm a trust but verify guy.Good people, good service.   

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Attend real estate meetups and networking events in your area to connect with potential lenders and other investors.

FWIW, I'm going to base this off a 1,500 SF single family new build, but I'll predict the build cost will be a little over $200/SF.

Cost per lead (CPL) is crucial—it shows how much you're paying to get a potential seller or buyer’s info, and you want this as low as possible without sacrificing quality.

It also makes things cleaner with other potential heirs. 

Using a HELOC to fund your first rental can be a great strategy, especially if you want to preserve your cash for other expenses or unexpected costs.

Staging is the process of arranging and decorating your house to highlight its best features and make it as appealing as possible to potential buyers.

So if the potential resident wants to drag their feet, but another party books on AirBnB, then that's just unfortunate for the FF lead. 

But weigh the costs of insurance and taxes against the cash flow and make your decision accordingly.