Have a huge cushion and don't get too excited as not everything is what it seems.

And STRs really help because you don't have the large dings that long term rentals have - i.e tenants damaging the property to where you have huge make ready costs (the str insurance covers that), no collections or evictions issues. 

Also, beware that building in a location like that can be a very long process depending on where you're talking about.

In my state, Minnesota, changing the locks on a tenant before the tenancy is ended is a huge problem. 

Tearing down any rooms that are a little wonky before the appraisal.For example, I bought a HUGE (3300 sqft) 3 bed house.

But if you just can't shake it, it's probably your BS meter telling you that you don't believe they will have your best in mind during the coaching process.

They should have a process for this that will likely involve probate.

Costco makes great-quality stuff, I try to avoid the huge bottles to seem a little fancier but no need to overspend.  

Starting with this will let me get a grasp of rehabbing and how the processes work with lenders.

There's more to it but you don't have to go huge to get started.