However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

IT's the worst place in the world to be a landlord and very high risk.

@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.

The risk is that they take only the things of value and leave the rest for you to clean up.2.

Diversify if you can with smaller amounts so risk is distributed. 

Obviously there is risk involved (as with anything).

I would read up on the risks before collecting rent with those tools.

And any risk of messing up due to ignorance. 

Wholesaling is risky, because there are a ton of bad players out there, and so most brokerages don't even allow it because there is so much risk, and the principle broker is risking their livelyhood. 

I think you run a real risk of your second rental eating up the profits you're enjoying on the first one.