Your answer would be it depends on a million things.Like the specific property, its condition, location to desirable areas, local STR regulations etc.We would need much more detail to be able to help.

Seek out distressed houses that are better off with minor cosmetic updates than major structural repairs.Form a Team: Assemble a group of experts to assist you in navigating the house flipping process, such as bankers, contractors, real estate brokers, and inspectors.

@James Wise we will always regard you and your team as one of the leading experts in our industry!

My hope is to begin building my portfolio (probably fix/flips) this year while I continue to work with local investors on helping them build theirs.

Do a thorough market research and consult with local real estate professionals.Good luck!

Here some of my advice first Educate yourself Understand the local rental market trends, property values, and rental demand.

Talk to a local lender to know what you can afford.  2.Research how to do real estate transactions, get a good RE lawyer or find a good investment knowledgeable agent.

I manage & do all of the setups because I'm local. 

That region will require some risk mitigation, and would be better suited for a local flipper specializing in those types of properties vs buy and hold OOS IMO. 

I'd definitely double check and triple check your local/city regulations in regards to rentals, so there are no surprises as to what you can do legally.