I would make sure a bundle of rights for ownership are available individually, per unit of course, then worry about warranty and purchase options.

Purchase price: $225,000 Cash invested: $40,000 Sale price: $375,000 Bought a large 4 bedroom pool home and flipped

Quote from @Scott Vaeth: I purchased a house in South Carolina this past year with the goal of BRRRRing it.

What's the purchase price? 

I'd strongly recommend against a single family home and only target properties with at least 2 units otherwise it'll be difficult to cashflow in this high interest rate environment unless you plan on using a large amount of liquidity in the purchase.

I’m considering either buying a rental since it’s cheaper or purchasing a flip if the market is booming enough.

Purchase price: $240,000 Cash invested: $60,000 I purchased this duplex in distressed condition using owner financing for $240K and secured a $60K hard money loan for renovations.

Self-proclaimed Section 8 guru's online claim to do the latter and then find Property Managers after they purchase the property in whatever state, but I don't know how real that is. 

I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there. 

I am curious myself on how purchasing a wedding venue business would turn out.