I walked all the nearby comps, gave the seller my opion/list of what his property was "missing" (fenced yard, light staging, add a 3 board fence panel and landscaping here...) and advised him to get a surveyor to mark the lot corners...The previous agent had not suggested they get a surveyor to mark the lot corners when he bought the property to flip....there's a chance the house or driveway may encroach the neighboring property.  

For someone looking for diversification or steady long-term growth without getting too hands-on, your suggestion of buying and upgrading a rental property in a familiar and appreciating area makes a lot of sense.

Tools like QuickBooks or even a simple spreadsheet can help you mentain compliance and prepare for audits.Reinvest WiselyScaling a short-term rental business often requires reinvestment in marketing, property upgrades, or even hiring help.

I suggest before that, get heavily networked into your target market. namely with the older investors.

What I would suggest is also consider investing in an area that you could drive to as well. 

Their capital contribution should be pretty easy to establish as it would be the value of the land.Like I said, I'm not a lawyer and I would suggest you talk to one but this seems logical to me. 

In this case I suggested a 10,000 gallon water tank with just one of those meters attached to it.

If you rent in a high-crime area, I wouldn't suggest it.

Aim for 720+ for best rates, I suggest start building relationships with your local lenders.

She also mentioned that they’ve been in real estate since 2006 and have managed over 30 properties (though this is more of a side business for them), which suggests a mom-and-pop operation.