Midwest Turnkey for First Purchase?

[Jeff Howard]

Hello,

We are trying to stretch staying in our two bedroom town home with our three growing young boys as long as possible to save for a down payment on a SFR once the oldest starts into his teen years. We plan on keeping our current home as a rental, but in the meantime I am considering paying cash for a turnkey rental in the Midwest somewhere (or wherever I could cashflow something) in order to start the two year process of receiving rental income on our taxes, so that once we move and are settled in our home, I can actively buy more properties and not have the debt to income problem. We are blessed with good income, and I am trying to lay the foundation down to potentially own 100+ rental properties over the next 20 years. Once prices cycle here in Southern California I would like to invest locally, learning to buy at a discount during the downturns, rehab and hold until it makes sense to sell again, or just hold forever.

I am having a blast so far learning from all the great posts, podcasts, and books that you all recommend!

Thanks for your help,

Jeff