But keep in mine fear can be used to your disadvantage-the self doubt that keeps one from pursuing aspirations and dreams, or to your advantage - the fear of being broke for the long-term or missing out on your dreams because you can't obtain financing because of a low credit score. 

Skirting laws to practice real estate does have some disadvantages.

Many others may have felt the same way, if put in a similar situation, but regardless of the intent of the the members posting, it would grossly disadvantage you to "throw away the baby with the bathwater!"

Now if you want to do something now with your savings it may prove not to a disadvantage if you and your relative do partner but in an all cash deal.

Your biggest opportunity, IMHO, is to focus on the educational aspects of investing, including different real estate types, advantages and disadvantages of each, as well as paper (notes) and other instruments for cash flow.

Almost every market has an advantage and disadvantage.

Is there a disadvantage?

Which is why having the right accountant is important.If you diversify your cash in different areas the hope is to balance things better.It comes down to what you are invested in...the question really has no direct answer...all depends on your situation.BrianOK but you are at a big disadvantage over a TX resident investor since he is NOT paying CA income taxes ON TOP of the high property taxes.  

All that I see are disadvantages. 

I'm curious to know if I am likely to run into roadblocks or disadvantages with this strategy.Thanks for any help!