If you’ve never owned a rental before, I’d highly, highly, highly advise staring out much smaller than 13 million and 100 units, and frankly unless you have 13 million in cash no bank is going to lend someone with no experience 13 million dollars, I’d start with multi family in one of three places, a class Baltimore, canton, fells, Fed hill etc, Frederick or the eastern shore of Md all of those markets are somewhat affordable have good tenant mixes and a relatively safe, see how it goes, if you like it, than buy another 2-4 unit, than another maybe once you have 8-10 units if you still like it, still are making money than go for something bigger.

Reach out to @Tom Gimer at Eastern Title

I look forward to continuing to learn from the BiggerPockets community as I navigate my real estate investing journey.I’ve had some success on the eastern shore of Maryland, though even that market has started to frankly become expensive, there are still pockets of potential growth both rent & appreciation, thoigh it’s becoming harder to find, also there is a massive rental shortage out there, a county I just put a property contract on, literally has 3 properties for rent right now, but it does make rental comps quite difficult, outside of that I’ve started looking a little more into western Md and some southern pa markets but still trying to get a feel for them, overall I think in this market places that are affordableish and have some draw will do well with the continued wfh + affordability crisis but keep in mind while I think the eastern shore is actually fairly safe market for the most part a lot of rural areas definitely have boom bust potential and in theory more risk than dc metro, though the low price points do by definition tend to mitigate some of those risks. 

Maybe I am wrong, because I am very new to this, but I wouldn't discount the eastern side of the state just yet.

For loving outdoors, hopefully you are moving to Eastern Idaho.

As far as location’s you will more or less be limited to D.C. and frankly not great areas in the city, there are pockets of Maryland that have them, mainly some parts of Baltimore, a few parts of Baltimore county, Takoma park, Hagerstown & a few parts of the eastern shore but the vast vast majority will be in D.C. 

Also, we are having a Vacation Rental Zoom on 2/10 at 6pm Eastern time, message me if you want the link to join.  

Here in Eastern CO a 35 acre lot will run you $150-200k.

I don’t know if these are the best the In the country but two areas I like are the eastern shore of Md, 250k is douable though it’s probably closer to 300k in most parts, another area I’ve started to do more more research on is Lancaster pa.

They are newer and more eastern TN but have some really neat options right now.