Setting clear goals and seeking guidance from experienced investors are excellent successful strategies.

Is airbnb a good option here?

Evaluate your budget, savings, and potential financing options.

Perhaps if you happen to be married, consider options for your partner to become REP. 

I have a connection with a wholesaler/investor that has a property under contract there with the option for sub-to and I'm trying to figure out if that's a solid area to invest.

I'm weighing my options.

A good option might be single family properties in Saginaw - they pay their own utilities and maintain their own lawns/snow removal, so it saves you time and money, and they're easier to sell if the need arises.  

Aesthetically and from a maintenance standpoint, I would prefer one of the vinyl options over carpet, but I just had to deal with noise complaints that had carpet in the upstairs unit already, so I am nervous to spend the money and install either vinyl option and the sound is even louder than with the carpet. 

If your budget is tight, the best option may be for you to supervise the work yourself and hire qualified tradesmen directly.  

Excellent opportunity for an LP to partner up with experienced rehabbers.