You can contribute each year to match your earnings up to the limit( depends on account type and IRS limits for the year) at brokerage or bank IRA and invest in investments you feel comfortable with like stocks, bonds, mutual funds and cd's. 

I always find it very beneficial to ask the other person what would it take for you to feel better about this, see what they have to say

@Julia Amelyan The terms of lease are typically in force until the lease expires or the parties agree to mutually amend or end it...interesting scenario...do the lease terms call for an increase in rent for the land?...

This was derived from talking to local PM company’s, my realtor, talking to sellers and an online expense sheet for a mutual family.  

It's not a lifelong choice- you can alwasy move into BRRRR after you learn more and have a cash flow buffer behind you.It's sort of the difference between building your own stock portfolio from scratch and leanring as you go and investing in a professionally managed mutual fund or ETF.

The point is Athens would be a good place to start your investing career.You should research a few strategies which are not mutually exclusive -- student housing, short-term rentals, co-living, house hacking, and BRRR.  

Show a big bank your $400k in mutual funds and $300k in stocks and $250k in retirement, also that you don't have a bunch of rentals or self employment or landlord income, and will thus be easy to underwrite, and the big banks will stomp guts relative to anyone else.

On the other hand, Bellflower does not have rent control.If you are referring to a single family residence where there is only one unit on the lot, then it is not subject to rent control laws.In any situation, I would encourage good communication so that you and your tenant can have a mutually beneficial, long term relationship. 

It all depends on the state and local laws, so a good attorney familiar with title issues would be very beneficial at this stage. 

That and my wife's much smaller income would provide cushion and runway for future entrepreneurial opportunities, taking lower-paying W2 options that have higher long-term potential or are just more fun...and worst case scenario this would be more money to save and snowball....What I have to work with is about $200K in mutual funds and 4 doors (two 2-bed SFR owned free and clear each renting in the 600's, and a duplex mortgaged conventionally) that are all nicely cash flowing and gained equity in my ownership.