The 5 percent you pay an agent to properly market a nice property will far outgain what you will lose involving someone who will come in and pretend they have the money to buy just to daisy chain it to every Facebook group in the area.

Hello All, I am under contract to buy a duplex via a wholesale deal and have already given the earnest money deposit.

Initially my draw to investment real estate was buy and holds to build a legacy for our children (one of our kiddos will need finances covered for him beyond my husband’s and my life.

Investment Info:Large multi-family (5+ units) buy & hold investment.

My original plan was to update and flip it , pay off the heloc and use the profits toward buying my first rental.

I wouldn't be so broad with your criteria. if I was looking in Texas it would be Dallas, Houston, Austin. top 3 markets. in florida we do miami, in ohio we do columbus. those are the #1 net migration cities and we focus in the urban core where migrations tend to be for younger population who have the purchasing power to rent or buy. 

But a good piece of land for an STR should be gone, so you would be buying land you think is good, but might not be.

@Ben T. let's reverse this and ask, "if you were buying this property to live in it with your family, what would you want?"

it is ok to buy a primary once a year if you plan to rent your current and buy a new one . many lenders will not like it being in the same area 

Investors made a killing buying homes in 2010 when many companies were going under and everyone in real estate panicked.Tip #2 Only listen to investors who are where you want to be.