My suggestions would be the Fredericksburg area, which is conveniently half way in between both as well as the Greater Richmond area.The Fredericksburg area offers the appeal of being conveniently half way between DC and Richmond and has a thriving business/industrial sector including Geico, DHL, McKesson, idX, greenchip, and First Line Technologies along with being home to the University of Mary Washington and Mary Washington Health Care.The Greater Richmond area offers the appeal of being the State Capital, has a strong business/industrial/financial sector including Altria, GE, Meta, Lego, CapitalOne, Carmax, and Brinks to name just a few of the big players. 

And have the rest of the equity concentrated so that you could find and buy the 2nd lake home at your leisure using a refi (or second 1031) without the 1031 time constraints. 

@Sterling Clifton definitely sounds like you have enough to get involved in the multifamily sector.

Hey Folks, just wanted to share the statistics for the Tucson multifamily sector.

There are several types of commercial properties and development specialties so you may want to narrow down a little and study sectors.

I would suggest three different types so that if one sector takes a turn, you are still protected.

If you don't know much about the new construction housing shortfall in Columbus, I would start by reading an article by McKinsey: https://www.mckinsey.com/industries/social-sector/our-insights/sustainable-inclusive-housing-growth-a-case-study-on-columbus-ohio#One of the problems with Columbus is the cost of new construction with basements is substantial.

I just joined the BP community and would like to know about real estate in general but preferably commercial real estate in New York because I just joined real estate consulting firm from the public sector.

The long term impact includes the following:-Less compassionate landlords who are willing to be flexible with late payments, evictions, or delayed move outs-Less supply of rental property due to single family rentals being liquidated and sold to buyer/owner occupiers -More competition from bigger REIT's (real estate investment trusts) and real estate holding corporations who can weather limited returns-Less incentive for real estate developers to rehab and hold properties long term in the local area-Less flexibility to keep rents affordable without falling behind and keeping up with market rents to appraise at exit -Less business in the investment property sector due to lack of supply, including realtor commissions, title and escrow fees, handymen and contractors, property inspection fees, appraiser fees, mortgage lender commissions, and bank refinancing profits -More headaches for property management companies having to navigate complex and controversial client demands on their property -Less qualified tenants using the first-come, first-serve basis for applications Now BEFORE EVERYONE thinks these laws are just horrible to invest here, I want to conclude with some of the major PROs of these laws:-Less competition from entry-level investors, meaning more deals will be had by liquid and well financed investors looking to scale with the roadblocks in mind-Higher valuation of rental property over the long term due to supply and demand constraints -More stability in the quality of management and landlord professionalism -More 1031 exchanges from older investors looking to move assets around more frequently to dump low performing properties -More incentive for real estate developers to only build large unit multifamily that will not have regulations for 15 years (from certificate of occupancy)-More expectation from tenant that they will receive an increase each and every year (more implementation, means more frequency to experience)As always there are two sides of the argument, but I firmly say that I can still be profitable and make millions of dollars here in Oregon, but with a little more caution and strategy.

With their expertise, they've successfully managed a multi-7 figure wholesale operation and have made significant strides in both the residential and self-storage investment sectors.