We moved into a nice house in Florida when I was a sophomore in high school.

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

You have a lot going on and if you had a 457 you were a highly compensated EE.   

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

But the level of negative cash flow that you're talking about is quite high and it sounds like it's not something you're comfortable with and thus should look for something else.

A good property manager can guide you in selecting properties that will attract a tenant segment with a high concentration of reliable people.Access to cost-effective resources for renovation and repairs.Lease terms enforcement.

And you get feedback at a level high enough to determine how to proceed. 

Besides that, just wanted to chime in real quick - I'd highly check in with a CPA and I am no tax expert, so wanted to preference that.

I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side.

You’ll pick up so much just by listening to people who’ve been through the highs and lows of the market.