Hello from Austin! Two newbs excited to get into MTR strategy

[Katie Kantzes]

Hi everyone - my partner and I have been following BP for quite some time, and we are excited to be in a position to take action.  We just need help busting out of analysis paralysis.

Here are our stats:

*We have 200k cash along with a $200k HELOC to invest

*My partner owns a paid off condo (worth ~$250k) and a 3/2 house ($199k left on the mortgage, worth around $525k), both in Austin.  We reside in the latter home.

*We have our sights set on moving to Colorado within a year and hope to achieve financial independence through real estate investing.  We are focused on cash flow potential.

Here is our tentative strategy:

We are interested in MTRs and furnished rentals, but are avoiding STRs due to increasing restrictions.  We are researching markets but are overwhelmed by the number of options and ways to get in.   Austin is out, as cash flow is difficult here and we don't want to stay in this location (nor do we want to house hack here). We are considering locations such as Omaha, Kansas City, OKC, and Des Moines because of the number of hospitals in these locations, which should help to attract travel nurses.

Our questions for you:

First - Does anyone have experience in these locations, or have other suggestions for us to consider?

Second - Should we begin with single family homes, or try multi-family to start?  How much should we invest in the first property or, alternatively, how much should we keep in reserves for purchasing other properties?

Third - if y'all are, or know of any investor-friendly agents in these locations that are open to talking with us, we'd love to get a conversation going.

Thanks so much for reading.  Best wishes to all of you on your real estate investing journeys!