He can spend the next few years-ish getting a finance degree through an online school while working part time, but he just got offered a full time position helping with sales for a local wholesale real estate company. 

Our new house is also in a neighborhood with FASTER APPRECIATION, better schools, etc.

But guess what, rates WILL drop in the next few months/years and most markets will explode after that IMO.If I had 25K I would look into B or B+ (specifically with schools above 5 greatschools rating, and moderate to low crime rate confirmed by heat map and frequenting businesses there) areas within 25 minutes driving distance from my home for a SFH. 

If you have a 20 year timeline, I'd probably recommend B areas closer to the city or in the better school districts in the suburbs for the highest combined ROI over that time period.Right now you can expect to find decently turnkey multis for about $60-$125k/unit usually all at least hitting the 1% rule in that range.

And are you targeting a certain zip code in LR or a certain neighborhood/area/school district?

Quote from @Gregory Wilson: A few things there, Brendan.First, an LLC with you as a member and your (wife, son, pal, etc.) partner as a 1% member will file a Form 1065 which is about one tenth as likely to be audited by the IRS as a Form 1040 with a Schedule E rental activity (which I presume you will attempt to show is an active business).Second, you want an LLC because when your local Alabama handyman drives his girlfriend's uninsured truck into a van load of U of A medical school interns on I-22 when he goes  to get some shingles for your roof, on your business, you don't lose everything you have or ever will have to an uninsured claim. 

Samford's business school also offers a concentration in real estate investment and management.

I have great clientele with repeat customers and wonderful word of mouth which keeps me busy enough to fill my summers and time off during the school year. 

When this occurs, area incomes fall and cities reduce spending on police and schools.

The schools are definitely great in Gilbert, which is always great for appreciation.