Wait for the economic correction.I’m new to investing as well.

Emphasis on depreciation recapture.  13 years is almost half of the economic life of that asset. 

I would rather buy in a city a home for 250,000 that appreciates over time purely based on the economics of that city and it ends up being worth 400,000.

This coupled with your personal enjoyment number, because maybe there are things you do that would be more economical to outsource but the satisfaction of actually doing them outweighs the cost.

I find that the market prices for risk/reward  or your in an area of functional or economic obsolescence.if its your home town and you can self manage and want to do it.. seems Ok to me.. as long as your going in with your eyes wide open.I have helped many a C class operator scale their operations..

Unlimited Wealth: The Theory and Practice of Economic Alchemy - by Paul Zane Pilzer •7.

Mike Terry I am not confident that rising rates will slow down home price increases...especially in states with strong economics like Florida.

Rising interest rates in a heavily levered economy and massive tax reform are two highly unpredictable economic factors...along with all the other black swans out there. 

Was the reason for their following generation being smaller than the proceeding generation and That north America has a mirrored demographic that could put us economically in the same position.

I am just rambling here to add perspective to different ways to think about economics and real estate.