You are trying to build a portfolio as if you have a crystal ball and already know how each property will operate after they are purchased.

I planned on starting off saving money for a year or so and using that for a downpayment too a property to then be able to flip in order to build capital.

That experience will definitely come in handy when evaluating properties, estimating renovation costs, or managing projects.Feel free to reach out if you have any questions or need advice as you get started.

Even if you hold just oneLuckily two of the properties I have lived in 2 out of the last 5 years.

My wife and I are looking at buying a property that we can live in and fix up (cosmetically) and then either rent it out as a standard SFH or as a short term rental. 

Did you flip this property?

As i recently took my bank statement loan for purchasing a new property from Best Finance.

Any property at a good price based on comps is a good property.

Alabama has the second lowest property taxes in the nation behind Hawaii. 

However, due to it being:1) In the state of California2) A shared home, rather than an outright external property being rented...the default insurance company on offer advised that many carriers are pulling out of CA and that I should go to a local insurance agency.My current insurance for home policy does not offer a "home-sharing endorsement" but only a separate renter's insurance, which would complicate things, since it's for traveling professionals, and they're not going to be booking for 12 straight months.