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[Jason Wagner]

Hi all! I'm not new to BP, but I am to the forum discussions. I enjoy reading all of the articles and blogs that arrive in my inbox. I work in the commercial real estate industry as an appraiser. I have been able to save a little chunk of change, and I want to get this money to work for me. Let's say my objective is to supplement some of my wife's income gradually to eventually have her stay at home. Lets also say I will have around $50k to spend. My interest is in a buy and hold strategy. How would you suggest I go about investing? 

I'm out of Dallas, TX. I've been told by my financial adviser (who is a family friend and I trust) who owns three rent houses in his own neighborhood that I should be looking near me. That way management of the properties is easier. Your thoughts?