IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.  

We would prefer to jump into the market with a duplex, triplex or quad as our first purchase. 

I am here to learn more about my own personal investments as well as seeking out learning opportunities from like-minded individuals.

You have to be a serious individual that takes care business.

Most institutional DSCR lenders prefer one lease per property/unit, however, I've seen programs allowing rent by room strategies.

Quote from @Alyssa Dinson: Hi everyone, I live in California and have been meeting a lot of investors who prefer to invest out of state due to California being so expensive as well as the aggressive tenant protection laws we have here.

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

You need at least one handyman on speed dial (preferably more), a good contractor for the bigger things, roofer, plumber, electrician, cleaner, etc etc.

I prefer new construction homes where an opportunity for a good deal presents itself How did you find this deal and how did you negotiate it?