If your timeline is 1-2 years then money market or CD will be your best vehicle to park your money.You don't want to risk your principal in anything riskier with a short timeline.

The rents/HOA dues compared to the listing prices (140k-220k) make it seem like an easy entry point into real estate with relatively low risk since I will live there initially and a large portion of the property is taken care of.

Hi @Dana KelleyYes, it will cost you more for investment properties as it's considered as a higher risk to lenders.

There are definitely comps in the area, just lack of consistency.I know there is always some level of risk but I'm trying to at least take on a manageable amount and be realistic about the sales price.Any advice for a first timer?

There are lots of ways to learn more and get involved in the local real estate investor community in VA.

I have given a card and candy at xmas and a baby gift for there new born (high risk pregnancy) but I only have 1 rental. 

Although house flipping and BRRR have always seemed interesting to me, I've fallen into a couple opportunities to do those, with minimal risk, but also minimal effort.The first home I purchased was '06 when my son was born that I rehabbed with my father (a retired contractor).

I'll have to see when the next meetup is and really get involved!

I know each deal and situation is different, but I'm just trying to figure out a ballpark range so I don't risk offending the other person or really short changing myself.

Regardless, the house is still in the name of the grandmother and there are too many heirs that would have to get involved in this.