College towns naturally attract students who may become applicants for your rentals anyway.

It's crucial to align this decision with the nature of your income sources and their respective tax treatments.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Wooded areas can be attractive to those who value nature and a quiet environment, but the cost can be higher.

Quote from @Daniel Rabinov: Would love to hear the opinion of anyone on how exactly he would take $1,000,000 cash and utilize it to meet the targets below.Please, if any agents/brokers are replying, don't talk about the market you work in as it's a bias opinion due to the nature of your work.I currently live in Spain, but can oversee projects and physically arrive at a destination if needed but not relocate.Goals:1.

The deprecation taken without this will be passive by nature and only able to offset passive gains. 

I would not advise you to pursue a house hack that you cannot afford without a tenant, due to the nature that it will certainly take time and mistakes for your first rental to stabilize. 

Also important to understand who the natural tenant is for the commercial space.

When we invest to CD basically we become the lender (to the goverment/to the people).As cash position now can exceed equity investment (in some circumstances), it's just natural that we invest more into debt/cash than equity.

It's just the nature of this real estate business.