Do you have a wealthy friend you.

You get some auditor who is inexperienced or even bitter towards wealthy people and they will go after you. 

Cash flow can pay the bills, but appreciation has historically done better at building long term wealth.  I

Then, in many cases (consult a tax advisor), the gains are wiped out and the cost basis is reset.The Biden administration is proposing to cap this loophole at gains of $500,000 in order to make wealthy investors pay "their fair share".

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If my goal were to build wealth, I would be focusing on how to build up my reserves to cover emergencies - friends, family, personal loan, HELOC, etc. 

I'm all for controlling taxes, but I'm not into the whole Conquer and Dominate culture that I think, wrecks what is great about towns like Austin and pushes workers out who can no longer afford to live where they work.

Then others have said to rent because the home is in a great area and being a landlord is a great way to build wealth. I

I learned a lot in he C class rentals and it made me a lot of money, but I read once that nobody ever got super wealthy off of cash flow.

Prices are relativley low (on a national comparison we are priced #66 out of the top 100), the city is fully built out, so growth happens only in the wealthy suburbs, which does not help with the roof shortage we have.