There’s demand for rentals in the area, and multi-family properties tend to hold value even in market shifts.New Construction: With SWFL growing fast, new construction is a big play, especially if you can tap into neighborhoods where demand is rising but inventory is still limited.

I also have personal W2 income, if that matters.Is there a loan out there for a set-up like this at 15% down? 

This influx is limiting rent growth nationwide, particularly in the Sun Belt, where oversupply has led to rent declines.Nationwide, vacancy rates edged down to 7.8% as move-ins outpaced move-outs.

it does allow you to repair things outside of the home to a limit. 

There's other items such as this where it may be helpful to talk to a CPA/EA for a little tax planning, especially since you'll likely get caught up in the passive activity loss limitations if taking bonus on a single rental property as I often see.It's also useful to mention that even if you do the cost seg study (I'm assuming you're doing one to be talking about this), you'll still benefit from accelerated depreciation in the form of shorter useful lives on the assets where you received bonus from.

Rising land prices are not that common either, and limited to select areas.  

However, if your time is limited or you don’t want to deal with tenants directly, hiring a property manager can make your life much easier—just be sure to choose one with solid local experience.Are you currently house hacking in Chicago?

I would only add these two: FIRST - people constantly ask which algorithm to use to get their prices set.

You'll also want to set up criteria for residents.

However, what if you prefer simplicity, limited risk, and are living off of the income?