We have springs all over the hill running down from the swimming pool on Nebraska Ave. of the same name.

Some say starting an LLC will help protect your personal finances in case of a law suit etc.

The property is a 5 suite strip mall in which 1 of the 5 suites is the business I run.  

Is one community better suited to the flipper while another might better serve the more long-term buy/hold investor?

I was wondering if this a good first investment for a young college student or is there any other alternative investment strategies that would be better suited for my situation. 

If debt, make sure it's not too expensive or it may eat up your profits quickly as you will likely be holding for a while as a 2/1 (renting or resale).I think the area in general is probably better suited for rentals where you can do a lower end, but still quality, renovation (at least for the rowhomes / might be a little more margin on a single-family purchased at a low price).

This is because the moment a binding contract is entered into the parties can bring suit to enforce the contract to either obtain specific performance or monetary damages for any breach of the agreement.

If an improperly installed handrail causes someone to fall down stairs and sustain major injuries the sub who installed the railing the gc and you could all be named in the suit.

We'll definitely be taking your advice and going forward with staging (at least the living room, dining room and master suite).

And Matt, yes Airbnb is legal here and more than encouraged.I have a property I rent here in cancun, 3BD, shared swimming pool in a very nice residential gated complexe a good 15 mins drive from the beach. it's value is around 55k USD and from the 18th of December to the 6th of January (Prime season) I have it rented at 350 USD per night...