Choose the type of investment. Investment properties can include vacant land, rental houses, condominiums, apartment buildings, store fronts, commercial properties, industrial properties, mobile homes, mobile home parks, etc., each have varying degrees of risk and reward. For someone just starting out buying investment property for rental income, a rental house or small apartment building is probably the best choice. This type of rental property offers the opportunity for income on a regular basis, has shorter vacancies on average than commercial or industrial property, is less regulated than condominiums and mobile homes in most areas, and there are many places that…