Moreover, for someone in your position just starting, it's best advised to partner with an experienced individual to mitigate risk and adequately learn the process.

While Portland may not require parking, I would strongly consider it if you’re thinking you’ll sell them individually as condos, especially in the Jade District.

I'd echo what many of the individuals who have responded already have said.

Of course your individual experience may vary and maybe you have a marketing and sales background so it is a good fit.

Homes are affordable and we're seeing homebuyers enter the market with a lot of assistance available from the city.I’ve been investing in Detroit since 2019 while living in California and own 12 doors.

Financing for RenovationsSince the property needs a full gut job, consider:Hard Money or Bridge Loan: Short-term funding to acquire and renovate, then refinance with a long-term loan.Private Money Lenders: Individual investors willing to finance the deal for a fixed return.FHA 203(k) or Conventional Renovation Loans: If you qualify, these loans roll rehab costs into the mortgage.3.

It essentially includes having a buyer for a specific property BEFORE entering  in a contract with a seller.  

There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual. 

Enter the NMLS # and you can see their violation history and things like that.  

One of the best ways to enter into Real Estate with little cash is buying a duplex and living in one of the units!