That said, if your comps don't require it, and your ARVs aren't there to justify the additional cost of finishing a basement, leave it unfinished.We have built SFHs on the North side of the city, and while our demographic and price point is different than yours, for a 3000 SF house we would generally do the following:-4 beds (3 on the 2nd floor + 1 in the basement)-3.5 baths (1 ensuite for the primary, 1 shared for the other 2 bedrooms on 2nd floor, 1 full bath in the basement, powder room on main)-Completely finished basement with rec space, storage, laundry, wet bar*I don't believe you'll be able to fit 4 decent sized bedrooms all on the 2nd floor with 3000 SF.

Cement board actually becomes stronger when it gets wet so it's by far superior.The cement board is only around $15 a sheet so it's not as if it's a budget issue.I can only assume that either-1.

Start with a single family home or duplex to get your feet wet.  

We prohibit parking or driving on grass that will cause damage to irrigation systems or the yard itself, especially in wet periods, and ensure Tenant understands they will need to restore the yard prior to move-out if it is damaged by vehicles, dog runs, placement of unauthorized "sheds", etc.You also need to address shrubs, bushes, and trees.

That's usually what I recommend as a nice starter investment to get your feet wet and have good cash flow on a long term buy and hold. 

I plan on statring close to home so that I can do the due diligence properly.Getting my feet wet that way will give me more confidence to invest in other areas.

Use social media to your advantage - join local groups for the area you're investing in and you'll start seeing names of local businesses and REI professionals come through.Easy way to get your feet wet as you're starting out - we work with a lot of folks remotely, so even if you're not a big "people person", it can be done virtually - just be smart and always vet.Best of luck to you!

A letter isn't a bad idea -- handwritten or typed with a wet signature -- but still.

Hi Andre-Congratulations in showing an interest in real estate investing and I see you are in Lansing, MI (one of my favorite places to invest).I am right down the road in Ann Arbor.Anyway, if you are interested in getting your feet wet in real estate investing, there are fractional real estate investing options for non-accredited investors.I would start your search there and it would give you practice evaluating locations and different real estate opportunities.To your success!

If you are completely new, would you like to wet your toes by buying cash-flowing properties first?