The other thing to consider is that with $50K-$100K down, you can afford to buy 2 or 3 properties in more affordable markets like Kansas City, Indianapolis or the Quad Cities in IA.

The Property is in Illinois and I am in Iowa.

In a couple of wraps I've been involved with, where we held the mortgage in 1st position, I as the lender insisted it setup this way.  

The sale of your CA property also has an impact on all of this but with time you could really benefit from a 1031 exchange.My wife and I love AZ, moved from Iowa 23 years ago.

Living in Lynnville, Iowa (close to des moines for any keyword followers) Originally from the denver area, will one day move back. 

Back before I found the joys of self managing, any time I got a quote from a PM they included those items in startup costs that I as the owner was expected to pay.

I like Indianapolis, Kansas City and the Quad Cities in IA.

Set up some key word alerts on things you are interested in (for example: permits, kitchen rehab, countertops, old houses, Iowa City, Iowa, load bearing walls, kitchen gut, etc.. you get the gist of it!)

Hi everyone,I have a deal in Burlington, Iowa that needs a solid rehab.

I know this is based on the goals I have for my self but a general rule of thumb, after deducting expenses from my cash flow, should I A) Use the extra $ and put it in the mortgage B) Save, save, save to buy another property in the futureC) Is there a third option that I'm missing?