working backwards from 1% the property should be in the 340K range to be in the ballpark.  450k is overpriced.Keep looking, and doing the math on every deal you see to get used to the numbers.also, do the numbers both ways  4 x 850 (to see future investment cash flow when you move out), and 3 x 850 to understand how much out-of-pocket will your contribution to the mortage be (if any).don't forget to factor in property management cost, even if you plan to manage it. 

@Wiley D'SpainYou don't need to be an agent to get started in real estate investing, but if you want to become an agent I can't imagine it taking 2 years to complete the training.Before asking yourself if being an agent is necessary I think you need to pinpoint your goals and work backwards to see what's the best path.I hope this helps.

However, as an owner-occupied refi construction loan, I can have 1-4 units ( which I think is totally backwards!) 

@Peace Lily I think FHA underwriters view that as moving backwards, as if you were moving from a sfr to a duplex.

I may be a little late posting this to the forums, but I wanted to put a (slightly delayed) spotlight on this awesome article that Forbes published in August.Inside Birmingham's Bid to Become the Southern Silicon ValleyBirmingham has long had a reputation, along with much of the South, for being a bit behind, a bit outdated, a bit backward.

So pick a niche that you like and then go backwards in time to determine what would you need to have in place to buy such RE property.

Of course appreciation is never guranteed and at times it can go backwards, but if you look at a 30 year timeframe it becomes a bit more predictable.Think of it this way: when you buy a new house, you should have 30-40 years before you have to start spending (capex) money on it.

Absolutely My advice is start with your 10 year goals and work your way backwards, if you see yourself becoming an agent part of that plan, then commit.

Keep in mind it works backwards as well.

For me to consider buying out of state property I have the ability to be able to drive or fly there if needed.Could rent out your current house than move to another live in it for the required period of time than turn that into rental as well.Figure out what your long term goals are of and work backwards  from there.