Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

If you plan to scale, I would get one right away on your first property.

The plan is to purchase a new home & keep current as a long term rental.

I am getting started in real estate investing soon, and I want to plan for the best course of action.

Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

We did have one, but took it down for iOS and have long-term plans to resurrect it.

Future land appreciation in this area might outweigh any tax benefits from buying in other areas, with a better (tax-wise) ratio.Before pursuing your plan, talk to a real estate accountant to figure out if you can, in fact, benefit from cost segregation.

We started construction in February 2025 and are planning to start leasing up in Spring of 2026." 

I would focus on homes with dysfunctional floor plans.

I am now working as an engineer in the Twin Cities, but have plans of moving to Austin, TX with my wife to house-hack and work in the more plentiful tech market over there.