In other words, I think we will probably have to be on the hunt for a very good deal or a very distressed property, and will not be investing in million-dollar multifamily properties... yet!

Best advice is to partner with someone who specializes in investment properties in the Austin area.

While doing that, you should research places that are good for investing.

Hello @Melissa Sejour,Choosing an investment city is the most important decision you will make, so you are wise to carefully consider your options.Where you invest depends on your goals.

@Michael Klick Congrats on getting things moving in your investing journey. 

Real estate investment is my future.This amazing voyage begins with setting personal goals and vision.

It's so important to take action and remember that the best time to invest in real estate was yesterday, the second best time to invest is today!

A friend of mine, Ryan, who invests heavily in Baltimore, realized his interest costs were eating into his cash flow.

78 Endicott St, Peabody – A 4-unit property with all 2BR/1BA layouts and off-street parking in a prime location near Route 128, the commuter rail, and Salem—just a 30-minute drive to Boston.Investment Breakdown:Purchase Price: $900K20% Down Payment @ 7% Interest: $180K → P&I = $4,790/monthRenovation Estimate: $200K ($50K/unit) → Total investment: $340KOperating Expenses: ~$18K/year (taxes & insurance)Stabilized Rents: $2,300/unit (market comps)Cash-on-Cash Return: 9% when stabilizedThis deal checks a lot of boxes:Max units for residential financing – You could live here & house hackCosmetic rehab potential – Flooring, cabinets, counters, appliances, paint (~$50K/unit)Strong long-term ROI – Factoring in principal paydown + 2% appreciation, a 5-year stabilized ROI of ~75%Pre-pandemic, these deals were more common closer to the city, but now we’re looking slightly further out—yet they still work as wealth-building assets.

So the question is whether your house is a good rental investment long term.