I have since gone on to build, new, ground up duplexes and I want to share with you guys parts of the process..

Lots of trial and error and learning from mistakes, so much more capital needed than 50k, so much work to do building a drag net across 5 - 8 markets to capture opportunity then have boots on the ground to put plans in motion.  

My expertise is in the fix and flip space and now, I'm heavy into ground-up, new construction of DUPLEXES and Build 2 Rent (B2R).

Thanks Jonathan, I've been in about 10 properties in the last week, so I'm definitely on the ground.

There is usually a close overlap that gives you a competitive advantage of knowledge or boots on the ground instead of nothing.

I'd just make sure you have a VERY CLEAR SCOPE OF WORK no matter who you work with.If you decide to use someone besides your property manager, you need to have BOOTS ON THE GROUND that can view the property a couple of times a week at least! 

There are certainly many hidden opportunities here, and having boots on the ground along with a great property manager is essential.For your first property, I recommend looking for something that will provide consistent cash flow and require low maintenance for at least the next 5-10 years.

I have boots on the ground (my business partner & agent) who informed me of the rough state the neighborhood is in.

They rather burn the house to the ground than sell it.And none of it is relevant.

Though I never put my ear to the ground as regards STR's, I plan to , and if I come up with any useful ideas for you, I'll pass them along.