I am New to BP and looking to get my feet wet in the real estate business. 

Will give you enough room for you and your daughter, and it'll help you get your feet wet as an investor.

There are many strategies like lending that can give you a return and maybe get your feet wet.

If you are looking for a low risk type thing perhaps teaming up with a seasoned investor looking for funding for deals may be a good avenue - you would make some money and get your feet wet at the same time. 

Yes, I am interested in getting my feet wet in any way possible in the investing world.

I know it's very basic, but after listening to some of Brandon and Josh's podcasts I decided to just get my feet wet and introduce myself to the BP community.  

We will be installing vinyl tile in wet areas, and are looking at possibly vinyl snap-lock planks for living areas and new carpet for bedrooms.

But I am a big fan self sustainment, so I would not go do something unless the move will for sure return, so in your case, I would skip the entity and protection after first few flips, get your feet wet as soon as possible, then you are now playing money that you did less work. 

It also sounds like with long term renters the rent might be under market with room for modest raises after your living there and getting your feet wet.

- Dimensions of the crawl space (l/w/h)- Floor and wall material (dirt, concrete, block, etc)- source of water- how long has it been wet (if you know)- whether wood joists, insulation, other materials got wet- presence of contents- means of ingress: location, size, indoor/outdoor- presence of mechanicals (furnace, water heater, etc)