@Courtney Rodes-there's no best strategy-yes, BRRRR still works, but you're much more likely to break even on rent. it's still a great way to force equity

Run the deal by other professionals you trust so you are more confident it is a good deal and not you trying to force a deal. 

Check closely to see if there are any limits for how long the property can be vacant.Some policies can cost up to $2,500 a year for a detached home if it is forced onto the property by the lender.

Additionally it is in such good shape, and has low vacancy, therefore forcing appreciation would be very difficult.My background: I've owned 2 rentals, 1 SFR, and 1 Duplex.

I just don't want to buy my first rental, immediately turn it over to property management, somehow get burned and be forced into doing it myself without any real experience.

Make sure that property pen's out in the worst condition and make sure that if you had to pivot it to a standard rental (due to forced regulations in your market) that it still cash flows or you are not underwater in a market correction. 

Others (Wife forced me to drive her a few places during Imelda when it wasn't so bad out) seem to park their cars on the streets which in some cases were higher than the surrounding land.

@Stacie Stac @Ali Boone regardless of opinons of areas to invest If you want to live in one of the areas then that's the driving force..

I'd then start forcing yourself to put $500-700 away each month as a "rental" payment towards some real estate.If you pay rent of any kind, to your folks or to another landlord, find a way to eliminate it from your life.

Creative destruction is a positive force in the economy.http://www.econlib.org/library/Enc/CreativeDestruction.htmlWalter