View report*This link comes directly from our calculators, based on information input by the member who posted.I’m considering purchasing two investment condos to help pay for my children’s college tuition in 13 to 15 years.

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.

Given that your current place is fully covered by rent, moving to a new property where you would have to cover $400-450 more per month could be tough, especially in today’s high-rate environment.

We're an appreciation market, not as much of a cash flow market here, unless you're putting a large down payment or actively managing STR's.Buying out-of-state can get you more cash flow, but the tradeoff is less appreciation (usually), and cash flow can be eaten up by maintenance and expenses.

I just do all my bookings over airbnb, its too risky to go direct as the guests aren't covered by airbnb insurance.

Such a situation is recoverable if there is enough time for a market recovery and the cash flow is at least break-even (or there is enough reserve cash to cover negative cash flow until it can turn positive). 

We have had a pipe burst during the cold winter months, the roof needed to be replaced (thankfully covered by our insurance), and some issues with electrical, which hasn't been majorly updated since it was built in 1973. 

Pick one that is improving, homes being renovated and flipped, vacant storefronts being turned into cool coffee shops etc.Good luck.

I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

I have improved fair rental value and value by increasing the kitchen size; adding an island tearing down walls between the kitchen and dining area and living area, etc.It all depends on the particular property.