What would be the ideal investment strategy in my position of working full time and living at home with my parents?

She also provided ideal zip codes of where to purchase properties.  

Ideally I would like to get this new property under better protection and build out.

Different folks, different strokes.

I would also do my best to stay away from anything with an HOA as they could outlaw your short-term rental business with the stroke of a pen. 

Hey @Erik Johnson always hire a licensed tax professional who specializes in real estate and ideally owns investment real estate themselves, you might want to listen my interview on podcast #168, we touch on some tax planning topics, while I'm not taking on any new clients if you private message me I can give you some referrals.Best of luck!

Finding the right properties,meaning the kind that will produce monthly cash flow and long-term profits, is one of the most important skills you must develop to enjoy any success in this business.With 40+ years and 200+ home rentals of experience, I have taught my students the following: Ideally I am looking for groups of run down houses (or combo of houses, duplex, garage conversion, maybe a mobile or 2).

Also hitches and axles removed, and ideally a perimeter foundation such as brick skirting.

My house had to be lifted roughly 10 feet to meet the new FEMA requirements on the 100 year flood level, which in an ideal scenario is not that difficult to do, but the issue is with the contractors. 

Our ideal scenario would be to find a few people for her to work for.