KristenWhen i try to learn about the market, i try to look in zillow or realtor.com and see general sold prices overall and current listings, and see if some parts or neighborhood is selling for more, or less.  

My brokerage allows me to be an investor friendly realtor here in the Berwyn/Oak Park area, and has been a great fit for me as I have grown my business.

The loan that is most likely to fit your sister's scenario is that she should have gotten an FHA 203k loan. 

Watch for an aspect of RE investing that intrigues you and sounds like a good fit for your skills, interests, and current financial situation.

It's a competitive neighborhood in Southern California.

UTLS  etc .. permits many CA locations permits can be 50 to 75k per home.. but I like building these days as a preferable to heavy duty rehab.. last comment is log home in your area unless your way up in the moutains above SD  its too hot and sunny those log homes will get weathered pretty badly and they usually don't fit in the scheme of what is going on in the area like say a desert style home with stucco etc.. that can handle the heat and sun

If he says it's good, I'd have a nice conversation about if the rental is a good fit for her or not.   

My target is to find 3/2 (or bigger) homes in B-/B+ neighborhoods.

@Rob Barry there’s really no one-size-fits-all structure.

There are deals to be had in North Nashville, but again you have to be picky about which specific street and neighborhood whichever property you're looking at is on.