I recommend starting with multifamily if you're just getting started with limited capital.

@Jeanette LandFrom my experience working with over 400 investors, growing your portfolio with limited capital is absolutely achievable with the right strategies.

For deals I do, I try to write in under the inspection section in the purchase agreement, “any and all recommend by home inspector including but not limited to inspections checked no above.”

Excluding the periods of “tulip bulb” irrational exuberance, a property must produce enough of a risk adjusted return to satisfy both the ROI demands of the “limited partners”, and the income/time requirements of the sponsor.  

Single family homes are usually the best as they have fewer limitations.

Some banks and lenders will calculate your Heloc payment based on the Max limit even if you only have a small portion used due to preventive risk. 

The $200k financing would serve as a purpose to be a downpayment, or do you want the $200k to be the top limit of the investment?

At another property with just the sidewalk I let the tenants take care of it, but the liability of these steep stairs makes it too important for it to be haphazard or me having to scold them to shovel and salt the walk and steps.I know in snowy areas people with houses contract plowing for the winter at a flat rate.

This last bank limitation isn't a bad thing in my opinion because the long-term rental yields are low and what are you going to do if a tenant doesn't pay?

THEY ARE NOT LIMITED TO ONE PROPERTY.So, they can 1031 to 2 or more additional properties OR 1031 into a rental property plus a DST so that all the profits are used up in the exchange.