Best of luck!

Best wishes as you continue on your journey.

If you're only looking to have 1 property overtime I might not be the best fit for you because everything rely's on that 1 property. 

It is almost always best to invest in markets you know.

You've done a great job with keeping your debt low so I have no concerns about your level of discipline to use/reuse a line of credit.All the best!

Ironically, these are often the best opportunities to build equity and find great deals.

We've rented out some of our best investment properties (New Construction/Turnkey) to Sec 8 residents, and the rent guarantee always helps in achieving consistent cash flow each month.

$300-$400k will likely not get you even a 2-family in the best area of New Haven unless it needs a lot of work, but will get you a property in a top flight area of Hartford.

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

All the best, Steven  If you're going to do a partnership or even a joint venture agreement I would highly suggest using a competent lawyer to draft your business agreement.