I plan to come a scope out locations/properties this winter. 

Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

The home is in a great location in Big Bear Lake, CA close to the Village and Ski Slopes.I have an array of emotions being scared of failung and excited all at the same time.

You'd want either an LLC in the state where the real estate is located or you can also just put it in your name and take out a good landlord's policy from Farmers, Erie, etc. which will protect your investment just fine. 

Most sellers are looking for 70-90% of the legal payoff nowadays no matter where the property is located, which in many cases is well above the unpaid balance. 

I’m open to exploring those locations since they aren’t too far of a drive.I’m leaning towards a SF property because I have $10,000 to put down, want to stay within my budget, and being new to this, I’d like to start small.

We have the full gambit from 1) finding and buying the right property in the right locations to 2) professional execution of the design to 3) discounted property management services.  

if you look at forced appreciation you can do that as a strategy but you are still limited by market supply, market economics, property ages you can't control. the strategy we do Is build to rent development where you build an asset 25% below market through infill site selection, land entitlement which boosts property values, as well as refinance once the property is stabilized. new construction you can't build something unless it appraises 25% below market anyways. so I think the majority of biggerpockets is focused on the strategy you mentioned but part of what I try to do is show other strategies that involve land, new construction, build to rent development, land development, land entitlements, smart asset design of smaller floor plates, infill locations where equity and values are higher, etc. we do this in Columbus Ohio.

Number looks good enough to me but I just worry about the location tbh.  

I'm going to look at price, location and pictures.