If your goal is financial independence, then selecting an investment city is a straightforward process due to the income requirements for financial independence.

Hello @Diana Teng,If you choose a city that meets the financial independence requirements and work with an experienced local team, you should be OK.The goal of real estate investing is financial independence.

Potentially lower down needed of 15% with better rate and 6% cap in IPC’s

This is a creative scenario with some real potential.

Your property definitely has the potential to benefit from a cost segregation study.

Sufficient infrastructure: Companies select locations with major airports, highways, and a large population of potential workers.

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

A financial calculator and legal pad might work in the hands of someone who knows what they are doing, but that doesn't mean it's the best way to do it.

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

Prioritize your financial stability.