So back story on our house- when we got married- her parents (who used to be in the rental property game) sold us one of their previous rentals for dirt cheap as a fixer upper starter home.

It's certainly a game of patience and waiting for the right deal. 

I have seen strong cash flows from newly built townhomes or existing single-family homes.This strategy may grow the portfolio value more slowly but single-family REITS have far outperformed multi-family REITS recently and large institutions are putting big money into the SFH game.

For a 2400 sq ft 2 story home with lots of TVs and opportunities for gaming, etc something better.

You bring the DP, they bring the ability to qualify, together you find a deal, and BOOM your back in the game!

What danger must be undertaken in the rental game?

@Daniel VernonHave a game plan to deal with the following potentials:Structural issuesGalvanized pipe plumbingKnob and tube electrical

AM I too late to the game? 

I'm terrified of making a huge mistake, but equally terrified to pass on an amazing deal that could get me in the game!

We have an Airbnb with Roku TVs, the renter asked if they could have the PIN to watch their big game on CBS one time.