I only buy if I can have equity right from the start.

Adjustable-Rate MortgagesAdjustable-rate mortgages (ARMs) typically start with a lower mortgage rate than a traditional 30-year fixed mortgage.

Quote from @Duarte Marques: Thanks for the fast reply @Chris SeveneyAny tips on how to start investing in real estate?

We quit real estate investing and it took me 23 years to start again.

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates). 

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@Brandon Dixon starting out by passively investing in apartment syndications is a great approach, especially if you have a full-time job.

Then, in April last year, my husband and I started a business, and I temporarily put both of those on hold while taking care of my dad.

I will add that you definitely do not need to be near your investments, but it makes things a lot easier when you first start off.