pack your trips with showings and meetings.if it's not worth it to you to spend some time and money doing that... then don't spend tens of thousands of dollars on a property.

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

Many people in consideration of #2, take steps to protect the assets so that Medicaid cannot take those assets like a home.

Way simpler and more protective for everyone for about $30/month.Out of curiosity, will you be at red stick REI in January?

If you do, work to protect it! 

An LLC is useful for two things: anonymity and legal protection.

These types of agreements can get a little in-depth, but that is what you want for your protection and that other partner.

My immediate goal is to acquire our first property and spend the next two years mastering the basics of real estate investment. ( Refining the Go and No property search criteria/ Learning the value of taxes and avoiding them as much as possible/ 1031 exchanges) Depending on my wife’s career orders, we may remain in Baltimore for 1-2 years, but I’m also exploring opportunities in West Texas, Sierra Vista, AZ, and Houston, TX.

A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.

@Heather Bailey Wow thank you so much for spending your time to help guide me!