If you were under the age of 30-35, I'd be comfortable taking on more risk (if it were me).

I would look at it as managing the owner's expectations and seeing what kind of capital expenses they are comfortable with.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

We have chosen distressed properties because of our past experiences and are comfortable examining properties that need help.

My husband and brother both have extensive backgrounds in construction, while I have experience in design, so I am very confident that with the updates we would make, the house could be worth over $900k.

So you need to get comfortable with putting a property under contract before you see it.

Step #PhaseStep1DiscoveryTalk to experts and learn (process, tips, design tips)2DiscoveryCreate social media and document story3DiscoveryGeneral research - budget considerations, financing options, permits, regulations, tax considerations4DiscoveryMarket research - competitor analysis, analyze guest reviews, market trends5DiscoveryGather ideas/inspo (blogs, articles, youtube)6DefineCreate brand and vision7DefineCreate guest requirements (e.g. coffee maker, natural light, near activities, etc.) and prioritize must have, nice to have, etc.8DefineSketch idea for look and feel (architecture and design) - map out the floor layout9DefineConsult an architect (is this needed?)

I feel very comfortable with the team.

Once you’re comfortable and have a solid team, you can start exploring value-add opportunities.

It just really depends on whether you're looking to invest in single or multifamily properties, how much you're looking to spend, and what type of neighborhoods you feel comfortable investing in.