All depends on your risk tolerance. 

It's necessary that I replace the floor in the basement of my duplex. I'm in the process of breaking out the old concrete and the earth under is wet. I understand that there should be moisture in the dirt but how ...

If you are just getting started and want to dip your toes to see your tolerance level then I would suggest corn hill, 19th ward, or Greece.

See how and for how long your reserves will float during different levels of stress, according with your risk tolerance threshold.Then, once you have the reserves, you can look into what to do with the overflow.

Compare that to your goals, timeframes, risk tolerance, etc, because at this point it's a matter of preference. 

The asset you buy depends on a lot of things like how far from you, will you manage and repair yourself, have a rockstar PM or have the handiness, tolerance and patience that being a LL of multiple houses requires. 

It’s all boiled down to your risks tolerance and setup your structures accordingly to mitigate those risks so that you can sleep like a baby at night.

@Raymond Hill if you want to keep these tenants, then talking to them about maintenance issues and potential improvements to the property is usually the best way to get them on board.People are usually willing to tolerate paying a little more if they feel they're "getting" something more in return.

However, this is not a black or white question and there are many factors to consider like personal wealth, affordability, risk tolerance, how long you plan your 1st BRRRR to take and how much cash you have to get started.  

The buyer is at risk to the extent of his down payment, capital expenditures and can be sued by the seller.There are numerous safeguards that can be put in place to lessen risk, often to a tolerable level,  for both parties.