Your goal should be to have performance cap rates at 7-8% on something with a market cap of 5-6%, which gives you a healthy 200 basis point spread from the going market rate. 

I had wanted to start looking into being a LP in syndications, but I'm realizing that that a hands off approach may not  get me where I want and need to be.I started reading through the "How to Invest in Real Estate" book from BP, and I am blown away. 

I believe that this approach minimizes downside by exploring the numerous currently for sale opportunities with assumable mortgages.

But if you already own the home, if you have a skill set that compliments theirs or the downpayment money, their experience may be leveraged to finance the deal.And there is always the "friends and family" approach of trying to get one of your relatives to put up the money, either as a loan or equity, to get started.  

What is the best way to approach this, build to rent communities or buy a property and rent out with property management.

One approach could be to let her know you will let her use the last month's rent as her deposit if she makes sure the house is in good condition and clean when she moves out. 

The BRRRR method can be a profitable investment strategy but it's essential to approach it with caution. 

I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC.

Be calculated in how you approach investing as there are many risks to it.

Fairly consistent rents for properties spanning realistically in the 100-250 range, with a healthy mix of SFH and MFH.