Everything in the article makes total sense...wealth building helps through appreciation and debt paydown over time.It makes sense that chicago suburbs with strong school districts perform the best. 

Just make sure to look into the HOA’s financials, rules, and rental policies before buying.

By 2030, we want to have grown a portfolio of over 100 units, created a property management company that manages an additional 100-200 units, and, finally (and most importantly), we will have established a non-profit that is focused on quality, affordable housing that specializes in providing housing and resources at/on the "services cliff" alongside financial counseling and first-time home buyer education in our target area.Our target area is the Springfield, MA and Hartford, CT areas with dreams to expand to Central Massachusetts (Worcester, MA), Southern New Hampshire (Nashua, NH), and Southern Connecticut (New Haven, CT).Would love to meet up with likeminded individuals in our area!

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

Do DSCR loans qualify if purchasing through 1031 w/debt-carry-forward requirements?

You can then get financing either through refinancing the entire debt stack or getting a second mortgage with the same bank that did the first mortgage.  

Also, you will likely only be able to use the rent to offset the mortgage pmt debt on the rental property to $0 since you dont have any Sched E history yet. 

My goal is to create generational wealth for my family and to eventually have the financial freedom to say "yes" to travel adventures as a family. 

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.