The process is easily a 6-week+ nightmare (all while collecting no rent at best...Or paying for alternative accommodations for your tenants at worst). 

If you want to build a good portfolio of highly profitable STRs, buying a 3 bedroom or making compromises on size and location when in 6 months you can save up enough to improve both, feels like an early mistake.

Not exactly with me as an investor...but I was building a house for an investor so I guess that counts...So I was walking through a rough inspection with a newer Building Inspector and he was calling out all kinds of mistakes he was seeing - where's the 4x4 from that top plate to the beam....where's the support for the brace?

They will resent you.As for building, you realize right now is one of the worst times in history to build right?

Either they made a mistake or your daughter listed you as more then a reference.  

A smart person learns from their mistakes, a wise person learns from the mistakes of others:)

Or is it not the worst idea to start early?

Anything and everything is for sale when negotiated correctly, so don't be afraid to reach out because the worst they can say is "no."

@Jeff Killmer, The townhomies out there won't like this answer but the worst place you can be in a market correction is in a townhome or condo with HOA fees. 

Needless to say it was the worst year of my RE investing career.