I have a similar background (but am much older) and did not start growing my own personal portfolio till I was closer to 40 and in less than 10 years I could sell all my real estate and retire if I wanted.

In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.

In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.

I generally look for the areas of a market that have a large amount of available rentals on sites like Zillow or Redfin that are closer in dollar amount to the FMRs for that county.

In the long run it will stabilize, but energy cost to reward gap is getting closer, faster.Good point about controlling the exchange rate, I'll look more into thatIf by wealth you mean cash reserves, this is regulated by government.

I would buy something closer to turn key if you can, even if you pay up, because it will reduce the work you have to do and figure out as a new large-scale investor.

Even though the distance would be a lot farther to travel than initially investing in another Chicago neighborhood, I know the tenant laws are a lot more relaxed out in the suburbs, the average price of property is much lower, and it just feels like a smoother entry point than a large city in general.I'm very interested in multi-family properties to begin my real estate journey and have worked on putting a team together, so I am getting closer to actually acting, not just observing.

Since I will have owned it only 3 years, the property value increase is minimal ($35K) and closer to $15K once I pay a listing agent and closing fees.2) Gift it to #2 son now and let him pay the Capital Gains tax at his rate (0%) when we sell next year. 

As a result, there is less demand for off campus housing in the immediate area and its become easier to lease housing closer to campus if you are a Temple student wanting to live near campus.Keep in mind there  is also a narrow windows to lease to college students and if you miss their leasing windows it becomes difficult until the summer to lease units.

I have not been to Reno, but climate is probably closer to what you have in Austin.