So, I'm looking to invest in other markets and trying to focus on one or two so that I can build knowledge over time, but narrowing it down is a challenge. 

Raising equity can be the most challenging aspect of closing a deal.

Start by talking to a cross-border CPA and attorney to handle taxes and legal structures properly.

I'd rely on her to handle much of the day-to-day management.Given this, we're leaning toward a single-family home where we can comfortably rent a room to someone we trust.

Small-Scale Testing:If you're uncertain about diving into a larger project, you might want to test them with a smaller loan to see how they handle the process.

My father is a certified contractor in NJ—he’s built one home, flipped four, and consistently handles upgrades and maintenance for me and his other clients.I’d appreciate any tips or stories from those who’ve turned equity into a profitable venture.

One thing that is really challenging about this market is the huge number of agents and groups that are here.Thanks again!

The challenge again, is the prices around here.

As with most people starting out - having the 20%-30% equity to put in the deal is the challenge. 

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.