Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year.

Additionally, don’t overlook Memphis, which has great potential for rental investments as well.

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.  

You may be able to see if a retailer still sells the 2024 version.If you can't get the one time purchase, you would need to see if the cost is beneficial.For real estate -  Quickbooks desktop > Quickbooks online because you can set up multiple entities within quickbooks desktop and not pay an additional cost per entity that Quickbooks online would charge you.Best of luck! 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

There are loan programs that will do a 20% down payment with a 680 or above credit score. 

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”

For example, if I do S/P top stocks, I could get around 11%. but if I did real estate and I have a 800 credit score - could I do real estate and make it work harder doing turn key Multifamily. 

Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

It is debt you are obligating yourself to and lenders and the federal government think of it that way.Missing a payment doesn't mess up your credit, but it does mess up your day when you get sued or prosecuted.