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

Single and small multi both have their merits- i prefer small multi :)Also, here's a section of a post I just made on another thread about a more detailed method of cap-ex calculation:Truly, the best method for the over analytical, is to segregate the cost of replacement vs. remaining lifespan of each component of the property & find out how much need be budgeted yearly until replacement of that component comes due.

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...

Great example of how to use youth as the only component of your life.