To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

This sounds like a home run and a great first purchase!!

And as you diversify, remember the power of your network.

Starting with a single-family home in Kansas City is a smart move, and it sounds like you’re really digging into the numbers, which is super important for making informed decisions.From what you’ve shared, your offer of $140,000 with an 8% interest rate and a 20% down payment seems like a solid starting point.

Since I’m still in school I don’t have much money, I’m trying to learn as much as I can about real estate so that way once I get a job out of college and a steady income I’ll know what to do with my money.

Overall, you're spending $25k in extra costs and a monthly pmt that's $500 higher to keep $50k in your bank account. 

Thanks in advance Community for your feedback, any and all feedback and a time you take the chair of your thoughts is very much appreciated.

I've done a lot of research on this topic as both an investor and as one who assists other investors in exploring this strategy.

And as far as legal—an attorney becomes essential once you're ready to finalize terms with either an HML or private lender to make sure everything’s secure.Hope this helps!

Starting out, single-family was my go-to—easier to manage and a great intro to the game.