@Chris Seveney agree with the logic, but 500k in equity after closing costs and tax would be somewhere closer to 300k, and generating 6-7% from it is only a bit more what I'm making today

By your logic any law regulating commerce would be valid… that’s not how it works. 

Which logically, I don’t think is likely.

Only 3 logical reasons:1) Your PMC is terrible and forcing you to handle the eviction- FIRE them!

And besides, if you are buying a rental outside of an IRA - you still need reserves, so I'm not sure I follow your logic here... 

I have a lot of respect for your knowledge of the L/T space, but in this case I disagree with your logic.  

If you search for rentals in the area, I think it is logical with this pricing why you don't see a ton of single family homes for rent.  

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This same logic has been extending toward multifamily.

You do have a logical point, but here's my counter:- Why does it cost more to order a hamburger at 5 Guys versus McDonalds?