They are really changing the shape of the city and it may become incredibly expensive to buy out there soon due to lack of housing.

Start with BiggerPockets Ultimate Beginners Guide (free).

Start with BiggerPockets Ultimate Beginners Guide (free).

Some buy to park money, others do 1031 exchanges or they simply buy them for a tax write-off. 

I have the "Bidding to Buy" book next on my reading list, following by David Greene's "Long Distance Real Estate Investing" book. 

That then registers the property at a new “base rate” and your future rent increases all be “base rate” + Inflation as guided by the town.

That being said, I don't have the information I would need to say for certain, but that sounds as if that's a high price for the asset you're considering to buy.

These programs often assert to guide you step-by-step through the process, provide assistance with funding, and connect you with contractors.

Quote from @Sri Reddy: I am a newbie to real estate investing and looking for guidance from the teams here to understand the sources from where we can find any small retail spaces to buy.

My husband is a contractor which gives us a leg up in flipping, but we are also curious about diversifying and buying rentals.