If you want a lower downpayment way of investing without moving into the property, I recommend the BRRRR method. 

The structure for this is a discounted sale, lease back, buy back.One of the partners is a qualified intermediary as well that understands the plumbing behind it to make it 1031 compliant.If you have any questions on that - feel free to give me a buzz.

So, some food for thought.Trusts seem to be the preferred method of liability and asset protection among the wealthy.  

It could be stressful if there is a plumbing or heating issue and you're several hours away. 

Could you have the house rewired and plumbed by the world's slowest plumber and electrician?

Often times when a builder/buyer moves too fast, or is too busy and overlooks a key piece of due diligence, the unethical ones will try the "scorched earth" method and blame everyone but themselves, even when they know it was their own mistake, and they'll see if they can scare you, the seller, the title company et al into paying damages/fixing their problem. 

Are there specific methods you're interested in (BRRRRs, vacation rentals, flips, etc)? 

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

Additionally, are there any other methods, approaches or strategies you’d suggest for someone just starting out in this space?

Now let's look at Quality based on grade of wood.There are primarily two different terminologies and methods to grade Quality.