The IRS safe harbor guidelines suggest holding the property for at least 24 months as a rental to establish it as an investment property. 

It is a very safe play.

I believe ARV will be higher than this but starting at 800k is a safe and conservative number. 

Since my son knew how to do it safely with ropes and harnesses he made like $3,000 in 2 days! 

You may pull it off.Still, there's something to be said for the critical mass, many baskets, safe-if-boring neighborhoods.

Better safe than sorry!

You can throw that $550k into an annuity (or similar) and get a decent (and very safe) return.

If you want to go further, you can use a service like Safely or AutoHost to run background checks.For payments, I’d recommend using a platform like Stripe or Square—they’re secure and easy to set up.

The higher the risk, the higher the cap rate, the lower the price.My advice to anyone who is getting started: buy something safe.

An investor who has participated in a subject to transaction without lender approval should NOT assume that they are safe from note being accelerated because a certain amount of time has passed.