I like to watch if they truly scrutinize the place based on their needs or if they are ready to move in that weekend without barely looking at it (major red flag). 

Biggest piece of advice I can give is don't overpay and avoid any major rehabs just starting out.

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.

I can think of 5 major new construction projects off the top of my head.  

I would consider starting with a duplex in major need of a rehab and house hacking it. 

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.

Go for it.I'm setting up a condo next to a major airport in Houston as my next airbnb; had my interior designer stop by yesterday (Monday) to give suggestions on how to add the "touches" that should attract guests.Hope this helps.

I am a very thrifty and frugal shopper, so the vast majority of these items have come from Goodwill, Craigslist, etc...  

I am a very thrifty and frugal shopper, so the vast majority of these items have come from Goodwill, Craigslist, etc...

You generally split your draws up in major steps, for example my current property requires about $50k in repairs, of that $20k was the roof, $10k was the knob and tube replacement etc.