Quote from @Lawrence Roedl: Hello everyone I am very new to all of this and getting my feet wet.

My first thought is house hack to get your feet wet and a property under your belt.

No wet soft spots / leaks etc.

No wet soft spots / leaks etc. 

You may be able to deduct a portion of your mortgage interest, property taxes, and even depreciation for the rented portion, which can help offset your rental income and reduce your overall tax bill.If house hacking isn’t an option, starting with a single-family home is usually the easiest way to get your feet wet.

As a real estate agent and investor who is actively involved in BiggerPockets, I get the privilege of connecting with a lot of people—especially newer, eager investors looking to get their feet wet.

“Do not let wet clothing or towels sit for long periods — they can cause black stains on walls or ceilings.”Have tenants sign a Mold Addendum acknowledging that they understand their role in preventing moisture issues and will notify management promptly if they see any black stains or experience leaks.Landlord ResponsibilitiesAddress leaks, water intrusion, or condensation issues immediately — prevention is key.Hire licensed contractors for roof, HVAC, or plumbing repairs.Keep documentation and photos of all tenant complaints and maintenance actions.Maintain proper ventilation and dehumidifiers in basements or areas prone to moisture.If mold is confirmed, notify tenants in writing about the remediation process and timeline.Tenant ResponsibilitiesReport leaks or water damage as soon as possible.Use ventilation fans during and after showers or cooking.Maintain reasonable cleanliness and avoid over-humidifying the space.Follow the instructions in the Mold Addendum and cooperate with access for repairs.Final NoteMold prevention is a shared responsibility between the landlord and tenant.

The builder is including a finished basement (approx 700 sfqt and 7'1 - 7'9 foot ceiling) with a rough in for a bathroom/shower and wet bar (small kitchenette can be installed in lieu of bar) .

Once I get my feet wet, build my contact list, and have a feel for how things work I’d like to transition to multifamily properties.

The best way to get your feet wet is to start by learning your local zoning and permitting process, connecting with builders, and really understanding land values versus build costs so you can figure out what makes a project profitable.