Real estate investing is a forgiving world; the average person can still make money even with some big mistakes.

Every property I’ve owned has had cap ex running $300-500/ mo. on average.

After rent, utilities, and supplies are paid for, I average approximately $1,150 per month in cashflow.

Do you have enough money to buy in a market where the median home price is 3x the average? 

Look into the average rent prices in the area to ensure you can net a positive cashflow.

Most people will see their wages increase somewhere in this range each year on average.

Total profits last year—subtracting property taxes, management fees, insurance, and repairs—were approximately $12k (which was then divided into shares for us and relatives).The city is Grants Pass, Oregon, population 40k, with median household income around $50k (50% lower than the national average).

The prices are not as low as the midwest but the appreciation have been above the national average for the last few years.

The only silver lining was that we also significantly underestimated our bed rates - an average of $1800 per bed less.

The appreciation rate in Columbus has been 8% higher than the national average over the last year.