You don't need 20% down.Sounds like a great plan.

Quote from @Matthew Samson: @Corby Goade yep, that sounds like a plan.

Not able to move (at least for a while) due to my job.Looking to use savings that would’ve been for a primary residence down payment to invest in rental property out of state.Would love to make connections, hear thoughts on good markets to look into, strategies to maximize return, etc. 

Add 5.82% long term appreciation (the rate for this century) we get 10.6% return plus tax savings/advantages. 

If so, maybe wait a year or two and save the money for the purchase.

@Bryce Nurding it sounds like you have a solid plan. 

You can also tell her to call the utility company about the best way to save, as turning off heat and on is not efficient having to run longer blasting out cold air as opposed to leaving it set at a lower temp. :)

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Let them know how much you enjoy living in the home and mention that you’re planning to buy your own property in 2025.

I have now saved $200k (liquid) that is ready to be deployed.