to get to the point, i would find an area likely to experience more demand and ensure the financials work out for both MTR & LTR's. i would ideally start out with a fourplex and depending how that goes, possibly scale from there. i do believe that it is more traditional to syndicate on larger properties so i am wondering if you know if it is possible to syndicate, starting off, for one fourplex or even one MTR condo. my gut feeling is to start with one beach-front condo in florida that requires $37,250 down . a new construction fourplex, however, i could finance with a USDA loan myself and not have to consider investors so that may make things easier, possibly.no airbnb's. maybe VRBO. two week minimum stay. only in areas very likely to have housing demand due to new factories being built.i own/run an STR right now and it is going well with only the occasional hiccup.

There was heavy black mold throughout the house and we ended up gutting down to the studs, replacing all drywall, all electric, new roof, most of plumbing, new kitchen, new bath and all new floor coverings. 

We had a policy with NREIG on an REO recently that was vacant, which was gutted by a major fire.

I am located at Central Florida area, and I believe that even with the high prices, higher interest rates and huge supply of real state down here, still out here many great opportunities.The market still hot, we just need to adjust the approach..... at least are my guts feelings.v/r

Trust your instincts, and best of luck with your investing journey!

I own a victorian house that was fully gut renovated/modernized 18 years ago.

I think in many places it is more of a gut game, than a hard core data game. 

Would be an interesting experiment but my instinct tells me that it wouldn't change much.

Just my gut feeling number. 

I guess you need the 30% for your umbrella and LLC and the most expensive manager and the best painter in town and you're also gutting everything to the studs before putting a tenant in it.