It is absolutely mandatory that as a responsible landlord you have a zero tolerance no smoking policy.

It really depends on risk tolerance and holding time horizon. 

I would say a fixer upper, but I personally don’t have the tolerance to deal with the bureaucracy in that town.  

People preach about not getting inspections, but that is all about risk tolerance.

House instructing your little dog is concerning tolerance, and encouraging feedback.

Specific advice: If you had 100k cash saved up today and you were a Newbie in Real Estate (with good risk tolerance, no kids or wife and in a safe financial situation where I can afford my basic needs and don't need to work for the next 3 months), how would you spend it? 

Dogs who attack are not tolerated in community life.

I did that until i realized that until the market crashed, which was conveniently synchronized with the crash of my tolerance for speaking with people. 

A good realtor knows what is working in their markets and what is not so you should have one on your team as a trusted advisor.Buy and holds are a whole different dynamic, every investor has their own tolerance for what they want in buy and holds... some like cheaper property that have good cash flow today and do not appreciate that much over time and others are willing to accept less cash flow today from more expensive property but theses homes appreciate more over time.

However, it is important for investors to consider their own risk tolerances and investment objectives and not just focus on tax benefits.