I am contemplating a tenant who is a stranger to our family, but he fits the bill as the quiet, studious type. 

Also, I know I just asked Tim this, but are you aiming to pay below market value for these types of rentals, or is it typical to pay appraised value as long as it cash flows on these STR's?

You can also find making two units out of a bungalow or similar type of home can create positive cashflow. 

Keep up with the educational side, figure out exactly what type of property you want to start with and find your first project.

Is this consistent across all mineral types?

Not that I would do all of the rehab work myself, because that would take way to long while working full time, but because I feel I have a good idea of what it takes to complete renovations and different types of projects.  

@Jeff Pagano housing desirability partly depends on the type of housing.

I guess they just really do well with that type of policy.

In which case a BRRRR type strategy would be in place to pay cash and refi it back out after 6-12 months at 70-80% of the value of the home.

Now the house is under contract, I want to k ow if we can also place an offer...to allow a type of bidding war for the property?