I want to build a small SFH or STR  on it. 

It will take some work and flexibility on design, but it isn't that hard.Here is a pretty good article on the subject of furniture depreciation - https://www.business-accounting.net/how-to-depreciate-furnit...Get with your CPA to make sure you meet all the requirements.

They say you should focus on one market and get to know it in and out.

Thanks for sharing, saw some of the webinar from the wallstreetoasis link.Curious how they communciated this to the original investors, cause them seemed to infur on the webinar that the 18% is such a great deal and better then what we would have offered the original investors.

This new policy that Trump just released on Friday stats the US wants to cut off ties with foreign investment from China. 

Don't spend on flowers too much because your tenant will very likely  not take care of them.

Bottom line is that you need to understand which risks you’re capable of handling with these various options.

While it seems like there are some better priced deals lately, you may have to be prepared to put down 30-40% down.I'd say due to the lack of homes for sale, you should be open to many if not most cities depending on the deal that comes up. 

In Michigan, the ultimate garnishment is state tax refunds (federal cannot be garnished).Not seeing how you are going to successfully do this on your own - remotely:(

Closed on a 26 unit bldg in January and currently under contract to acquire a 64 unit bldg.