Best option: don't invest in areas with high crime.Security cameras, motion-detecting lights, and plenty of signs that it's protected by a security system.

We’ve found a great option for us in Tennessee with a cabin (currently used as a str) and a mobile home.

Is spending thousands on a sprinkler system worth it or do I have other options? 

That $3,000 is typically the annual cost for a full service property management option. 

On the other hand, if you are looking to do a more heavy value-add with renovation you may look for bridge or private money options.

The more cash on hand the more options.

so, to recap, you need cash for: down payment + closing costs + holding costs.for a new investor, a live in flip might be a lower risk option than an outright flip. 

The oener finaning option.

New construction can be a very attractive option in certain markets.

This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.