They offer potential without the heavy competition of more established markets.

My goal is to scale up over the next few years and add another 10-20 doors.I ran across someone that is saying they are building quadplexes in the same town in Texas as my current rentals there, so I have some support system there.High level this is the idea on the deal:4 units constructed as 2 duplexes on one parcel.1250sqf 3/2/1 units$650k sale price, CME is $820k according to builder, will have a independent CME done if/as I move forward.Rent per unit is $1750 based on the other quad in the developmentBest guess at this point is about $16k/year cash flow at a 9.5% cap rate.Builder is a sister company of a established company in a related industry that has done "some" builds before but not a lot.

The kindness and humor of the responses is comforting in a field where there is very little down time (currently as I get it established) and you all "get it".

As a new real estate investor you have to establish some business goals, if you want to treat it as a business and not a hobby.  

Both careers would see a sharp short term income loss, but once i'm established the money i'll make ought to be comprable to my next year income.

(Only if you are SERIOUS about real estate as your wealth/career vehicle.)Make sure you join a brokerage that is large, established, and has a reputation for top performance and excellent training.Once you learn the basics and get out into the field to see the state of the market, you'll learn the price points and be able to know a good/great deal when you stumble across it.I have made some of my best (most lucrative) buys from meeting with a seller who wants to list, and when we discussed the price, I knew it fit my parameters, so I bought it! 

Look, I think of it this simple, I don't know a single established millionaire who does the "standard" consumer debt thing.

Starting out you want to establish a team and visit wherever you go to invest. 

This can be used to eliminate most gains of a long hold highly appreciated rental asset through 1031 + primary resident conversion to establish a more favorable ratio. 

They cannot arbitrarily make wild gambles because they feel like it - they have to operate within established risk parameters that are approved by several regulatory bodies and internal controls.