@Rajan SainiFrom the beginning if time is a factor; hire a bookkeeper, hire landscapers, find good handyman and find a good virtual assistant for tasks that can be completed online like posting apartments for rent.

@Kenny ColatoFor FHA loans, you don't need a lot of diversity in credit, but having more diverse credit can help increase your credit score. 

Next on the list is exterior paint, wood repair, new roof due to a hail storm... and landscaping.

@Devin Fuller welcome to the wonderful and diverse world or Real Estate!

Up until a few years ago, I worked different construction-type jobs from landscaping to building scaffold for commercial sites, so I still have a lot of good connections in that world, like a friend who is a lead at a painting company, one who does framing, a couple guys at "1-800-Got-Junk?" 

Within real estate my strategy would be to split that 200k, or whatever is left, into as much diversity as possible, maybe putting it into a local property and maybe a few partnerships spread across different geographies, asset classes, operators and other factors. 50k can get you into most partnerships and some have even lower barriers to entry. 

Although my personal experience with owning a few rentals there has been overwhelmingly positive mind are in Summerlin in very nice neighborhoods and with tax's so low and quality A class tenants no real maintenance other than normal things that might wear out but when you take stucco  tile roof and desert landscape along with some of hte lowest property tax's in the country the COC is right were we like it for conservative SAFE risk reduced rental investing.. 

In this regard, you will hear many people talking about major markets with diverse employment drivers, strong population growth, and strong rent growth outlooks.

Sure they help a little bit at the end of the day do what makes you feel comfortable... mask/no mask vaccine/no vaccine.Don’t hope for a concise answer from a diverse group.

There are long term leases that are dozens of pages long for long term housing that cover every item imaginable such as who is responsible for clogged drains, broken appliances, landscaping maintenance, etc. none of which  are likely to be in a short term lease.