@Nick SarangoulisIt’s important to spend some time thinking about your strategy and what you want to accomplish.

Take this 💥just-closed renovated property for example💥:With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my areaAnd the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:You can also run Agent Stats to find/get in touch with the real top-agents in that area so you can triple-verify everything and/or list it with them when you are done.With the above, I am able to quickly vet every new deal that comes my way and spend more time on the good ones.

@Angela Fondeuri started by renting out a condo that i used to live in, and i grew slowly from there.the reason that i say a cheap property isn't going to help move you forward is because you'll be spending money on it that could be saved for a house hack, and you won't cash flow, because interest rates are too high.i am making numbers up but say you need $40K to buy a property in the midwest in a good neighborhood. 

No need to work on that right off the bat, you should be spending your time learning, networking and analyzing deals, then start looking for that first deal!

If you spend $680k + $70k = $750k, you likely need rent of about $7500/month to be cash neutral.  

It really comes down to your level of risk, how much you want to spend, how knowledgeable you are with the area, and if you want to be hands on or hire a property manager. 

Far too many investors spend way too much time, money, and energy creating LLCs or other complexities that serve no purpose.An LLC is useful for two things: anonymity and legal protection.

So while every market is different and $4500/mo in rent is nice, are you spending a lot of money to have a less valuable property, versus spending that same $400k (or less) to do a nice renovation and keep it single family home and sell it or rent it out as a nice single family? 

A lot a newbie investors spend so much time trying to learning "the right amount" of information before jumping into investing (as if there's such a thing).

I spend about 6 hours a week on my LTRs, I have 25 units and am buying more.