As I prepare getting married next year and consider long term wealth creation, I naturally started paying more attention to real estate as an investment tool. 

Constructing a small vacation rental at the site is a possibility we are beginning to investigate since it seems to match what we already do travel-wise and rental occupancy rates look favorable to property owners given the right circumstances.We already own a single family rental in our hometown that has been productive for us over 15 years, but the nature of a vacation rental is a different animal altogether.  

If we sold is the next natural question.My instinct is to begin in rental properties that aren't nearly as expensive as my current home.

Key ingredients are going to be patience and diligence.

Flipping would be a natural fit for us.  

But if it were me, I would be very picky about my buys because the transient nature of the residents there make for a high crime rate in some sections.

Guess it depends on the nature of the properties (residential, commercial), your D:E ratios in each, terms and restrictions of mortgages (avoid ARM's that expire concurrently), anticipated vacancy rates and trends, cash flow and reserves, etc.

To the extent not confidential or sensitive in nature, if you'd like for me to take a look at whatever you've drafted I would be happy to 'lend' some feedback.

Navy Aviation Electrician working on mine countermeasures equipment, Industrial Electrician and Instrument Fitter(working in refineries, natural gas burning power plants, and a nuclear plant) and 6th Generation Cyberdrillship Electrician(working in places like Korea, Singapore, Angola, and currently off the coast of Egypt)are most of the jobs I have held in my lifetime so far.       

Either way, something that can come up quite quickly but is the nature of owning condos.