Rent to close friends and family and on AirBnb to cover my expensesOther than that I think finding a LTR furnished at that price point will be very challenging

I relate with knowing I want to build my real estate portfolio but feeling overwhelmed with how to choose a market (I live in Seattle which is similar to CA with regards to the price to rent ratio challenges), so I wanted to share my current plan.

Unless you're up for another challenge holding and renting creates headaches and PM "fun" you don't have time for. 

To me it’s a challenging game, an intricate puzzle where if you learn how to play you get great results.

•What challenges or surprises should I expect?

For those of you actively working on fix-and-flip projects, particularly in dynamic markets like Houston, I’m curious about your approach to navigating today’s challenges.

I think one of the biggest risks you face with Cash Out is interest rate risk.It's really difficult to predict where interest rates will be in a 2-5 year time period, so it can also be challenging to model out future mortgage rates.

@Jeff Hineswhatever you end up doing i'd stay local. i know the markets you mentioned look tempting, but they have their own challenges - for example, the midwest housing stock is very old and often has severe deferred maintenance. 

Yes, the economies of scale are better but I feel the jump from duplexes to a 20 unit will be much more challenging than you think.

The challenge newer investors face is that overpriced properties tend to sit on the market for 60+ days and they see them all the time.