It is always better to start with a multi-unit 2+ so that if something goes wrong, you still have one tenant to cover necessary expenses (mort, taxes, insur, etc).Also, major renovations are not a great idea for starting out as others said, especially out of state.

You need to do renovations, improve the property, and drive up rents.

He wanted to make renovations, depending on the extent, was told he might lose the grandfathering.

My biggest tip is to save way more that you make and then buy a 2-4 unit building and use a 203k or homestyle renovation loan to do some rehab and add some instant equity.Also, Network as much as possible and get comfortable approach any one and asking lots of questions. 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

If your goal is to scale faster and get to the point where your real estate cash flow allows you to spend more time with your kids, BRRRR can help you snowball your investments instead of parking all your cash into one deal.Building Equity: With BRRRR, you get the chance to build significant equity upfront by adding value through renovation.

Renovated the full property What was the outcome?

Through PHA sources, the article indicates the renovation will cost $112M, twice the initial budget.

Property must be habitable now - there is not  a renovation product. 

In view of the fact that I'm a newbie, complete home renovations seem out of my league (for now).