UNTIL YOU SELL THE PROPERTY... then the cap goes away and you are taxed on the fair market value of the house which is usually the new sales price less maybe 15%.  

You would really want to do your own due diligence and probably fly to the market(s) you'd like to invest in.

Amid surging demand for apartments, the US rental market is contending with the largest supply of new units in four decades.

There are some markets that you may be able to make a purchase with what you have available. 

After 20+ years in real estate partnerships, here's what actually puts you on the IRS radar (and what doesn't):REAL Red Flags That Matter:The Partner Complaint TriggerDisgruntled partner files Form 8082K-1 disputesPartnership disputes leading to tax filingsReal Impact: Instant IRS attentionSuspicious Loss ClaimsLosses exceeding investmentArtificial basis inflationSudden large losses without economic realityExample: $100K investment claiming $500K lossesRelated Party GamesCircular property flipsBelow-market transfersFamily partnership schemes without substanceWatch Out: IRC §267 and §707(b) violationsDebt Engineering Red FlagsBasis inflation schemesArtificial guarantee arrangementsPartner debt shifts near year-endCritical: IRC §752 compliance matters!

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

He is great with investors and can find deals that cash flow much easier, including some off market stuff.

I have always wondered what other investors think of the Austin market. 

Without going into too many details about the property, I'm interested in connecting with people who deal with off market listings and investors in this geographic area. 

We are open to MFH but depending on the market we pick they are less common in certain parts of Idaho.