If you have ample time and want to be hands-on, I’d recommend choosing a market that interests you and building a team—including an agent, contractors, and a management company—to support you throughout the process.However, if you’re busy and don’t have the time to manage all these aspects, turnkey options might be a better fit.

They will all have there own requirements, not only the financial aspects (terms and requirements of loans), but also on experience needed and whether yours qualifies.  

Work with consistent contractors.

I'm an equity partner on four different apartment complexes and have learned a lot from talking with and observing the lead investor (i.e. syndicator) about raising capital and investor relations by being in those deals.If you are fortunate enough to find a mentor, it would be wise to find someone with integrity, who has multiple SUCCESSFUL deals under their belt and believes in consistent and clear communication with their investors. 

Louis may not experience rapid appreciation like some coastal cities, it has shown consistent and steady growth, which is favorable for long-term investments.Diversification: Investing in a different market can diversify your real estate portfolio, reducing risk.Considerations:Neighborhood Research: Research neighborhoods thoroughly.

I use lending for some lazy money in my life insurance or IRA and can make big chunks of cash in a short amount of time - but I am a full time passive investor and I haven't found a better investment for consistent cash flow than I get with syndications.

I'll handle rehab cost, management and yearly expenses etc...and would like to build a nation wide company consisting of low income-luxury buy and holds, fix and flips, commercial, development and eventually branch out to vacation rentals as well.  

No personal experience here but here's a helpful reference from someone who wrote a blog about different aspects of a 2 flat remodel in Chicago Scroll to "Two-flat journal 6: How to make an all-electric house" - - speaks a little about heat pumps and cost In the HVAC section.  

I know a lot of the same questions I hear consistently are answered on these posts so hopefully this will be useful for you. 

All of the above will work with some consistency and luck.