I submitted an application for kicks, was interviewed and chosen for Mastery.

I won't share the other tips I've learned, as it cost me a ton of time and headaches to figure out and it's one of the only barriers to entry in my chosen line of work.  

Though he would be able to finance it all himself, he has wisely chosen to have me secure my first deal on my own in terms of financing so he knows I have skin in the game (he's been burned in the past helping folks).

Especially after you get connections in your chosen market, the DIY approach can be a money maker. 

If I had chosen to invest in C class properties I would then be accepting of certain risks and operate accordingly.

I have chosen that if this ever happens I will start small.

Even if your Boat is airtight, if the economic tide goes out, it will fall with the tide and you may not be able to sail away.It seems that Peter M. indicates that your chosen area has sound economics.So again, the risk tolerance of your circumstances may be above others who refuses to even consider things like saving your rent if you buy rather than paying much more if you didn't buy or even refuse to take any negative cash flow situations, but it is well within my risk tolerance levels.In fact, I don't even consider it a risk since there is a profit from the most pessimistic IRR calculations and the economics looks good for the future.Had I been had less Risk Tolerance, there would be no way I would have build a Real Estate Portfolio over the 21 years I have been Investing in NYC.

She has chosen to go to Art and Design school and I am supporting her decision to follow her dreams.

But I'm sure glad it's scaring away some folks on the coast :) Taxes are truly crazy though. well when the foundations happen to you then your opinion changes.. but its not only Texas other markets have foundation issues.. but those can be real problems if it happens to one of your assets it can wipe out a year or multiple years worth of cash flow no doubt.the other passive investment for those with decent SIDRAs are notes  great performing notes.. when well chosen these are passive as well.

Yours is not a path I would have chosen.