If you want something more passive or hands off then there are turnkey options as well where you can get cash flow but will be buying more at market value.

My vision is to keep it a while (it’s paid off) and use the cashflow to help with my kids college.  

It was a fun realization so I thought I'd share it here.I purchased my first real rental 11 years ago off the MLS for 108k (put 20% down).

You better off search local.FB groupsThumbtacketc

Reno Scenerio Off Market Purchase Price - $185k ARV = $315-335kReno - $55-65kHolding - $10kClosing both ends - $25k= $335 , $315-$285 =$30-50k gain  As-IS Scenario Purchase - $185kSale Price on MLS :$225- $235kClosing both ends - $20kHolding - $4k= $235 - $209 =$16-$26k gainIn both scenerios I’ll be 1031ing it into a new investment.

Quote from @David Strunk: I know this question is off topic but I am also in NC the Charlotte area and was wondering if you could recommend a good CPA?

For someone new to real estate investing that wants to do long term rentals, do you recommend starting off in an area close to them/an area they're familiar with or someplace that will give them the best return even if it's out of state. 2.

As a hard money lender looking to fund $10MM+ in deals in 2025, our hope is to connect with similar sized hard money lenders, ideally in different geographic area, that are looking to create a small network to bounce ideas off of, learn from, and engage with regularly.Welcome to BP, as a lender happy to connect with you and network 

I use all the rental cash flow to pay these loans off asap, then repeat.

All rents you get from this property has to go back into the SDIRA but if you get a 20 year mortgage (that the rent can cover) and can pay the rental off by age 65 you will have turned that $90K into several hundred thousand’s of paid off real estate.