Quote from @William Silva: Randall is correct that PM can be expensive. 

They tend to be lower maintenance, and the steady cash flow can be a great way to start building your portfolio.That said, vacation properties can be lucrative too, especially in high-demand beach areas.

Multi family 2-4 units are good to start with as you can leverage the income into another property and continue doing so over and over again.

I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

I've heard there is a bond strategy that can release the liens, allowing the sale to proceed while disputing the claim separately.

Some ideas seem great at the time but life changes can quickly derail your goals.

Both men are on Youtube and offer their systems for direct purchase or you can partner with them AFTER you buy.I'm looking for something that I can both learn to do alone as well as partner up with someone. 

-Can I even do a cash out refinance with an FHA loan? 

That way, you can clear up anything that might be on your credit that you don't know about, maybe increase your credit a bit, and have plenty of time to look before committing to a house. 

Duplexes can be scaled over years 1-3, with future expansion options like flipping, BRRRR, storage, and cabins.