Primary reason is that it's not economical to building in today's market compared to a larger industrial building with only 1-2 tenants to manage instead of 30 smaller ones.

Squeezing the architect costs to save a few thousand is pennies as compared to the hundreds of thousands coming by way of costs for construction (materials & labor), filing and inspection fees, etc.

Pueblo's housing cost on average compared to Colorado Springs is $150,000 less. 

It might rent for $800, but the rehab costs would be so high compared to it's ARV. 

Solo 401k plans are often quicker to setup and cost less money over time compared to most self-directed IRAs.If either the IRA or 401k are to obtain financing for a purchase, a non-recourse loan is required.

So, given you are in a lower end area with lower rents, you need to reserve more money on repairs, maintenance and capex compared to a higher rent area, since that $200 HVAC or plumbing service call is 25% of $800/mo, but 10% of $2,000/mo.  

Comparing it to a 30-Year Loan is crucial, as it preserves capital but also takes on rate hikes.

Even with the equity built up on my current property it would not be enough to put 20% down on something comparable.

The waterfront properties along the Chesapeake Bay and Potomac River have higher demand and can command premium prices.In recent years, housing prices in Southern Maryland have been steadily rising, but at a slower rate compared to the DC metro area.

The issue in Chicago is our unique 2-4 unit inventory that is still more approachable in price compared to other big city markets.