We live in a mobile society - I've worked with Oracle DBA's that live on farms 2 hours away from the city, I work with people that live thousands of miles away in other countries (Ireland, India, etc.).It's all about wanting to make it happen....having the "testicular fortitude" to take the steps to buy that house and live on your own independently.Then again, if I can make $80k per year as an Oracle DBA and still sponge off Mom and Dad, then why not?

I make a decent living as an LT and with a little extra research, effort, and intestinal fortitude I'm gradually progressing as an effective manager of 6 units.

They have the capital and expertise to make stuff happen when they want to but also  the financial strength to absorb a loss when they need to get out and the intestinal fortitude to retrade deal terms when they deem it necessary. 

That is, unless you think you would have the emotional fortitude to hang in there through a 25% drop or more in the value of the 401K.Instead of moving into funds with higher risk in hope of achieving a higher return, maybe see if there are funds in your 401K plan that do not charge as much for management fees, such as index funds.On the REI side, it seems you have made several offers but have not been successful.

I would caution you to make sure you have the Intestinal Fortitude to be a Landlord before you travel down this trail. 

Act with grace, strength, and fortitude fast.If you are selling no point in changing Management Co but you need to start the eviction process and get tenant out as no new buyer will want them and they can obstruct your sale.

If I had the very rare fortitude to save $100k (only 15% of Americans have $100k or more in savings) then I should be able to invest it any way I see fit.

Again, just be careful, and make sure you have enough reserves, an exit plan, and the mental fortitude to persevere if something goes bad.

The only key is having sufficient amounts of capital reserves so that you can survive a potential economic downfall without being forced to sell the home at inopportune times.Furthermore, if you can't pull the trigger and buy a home while prices are going up, what makes you think you have the internal fortitude to buy when prices are going down? 

It may sound daunting at first, but it can be done if one has the fortitude.