However, the LTV that you will be allowed to borrower will be less, in the 60-70% range max.

As you are partnering with your sister, have a legal document drawn up as to what happens if one of you wants to sell and the other doesn't, how expenses will be split along with money you are putting down, borrowing, profits, etc. 

For what you are trying to achieve you'll want to stick to the suburbs and a few choice neighborhoods on the West Side of the city.

So choice is staying stock market and making 15%-20% or buying property and MAYBE breaking even. 

Some will shed most is not all of their rentals and just do lending .. personal choice.. some things to keep in mind ONLY do first loans. 

They, in retrospect was a bad idea, did loan mods at 3-5% for borrowers (whyyyyy?????)

You can contribute more compared to a SEP IRA, avoid the UDFI tax on leveraged real estate, and even borrow up to $50,000 for other needs.

Is it a good choice for investment?  

for folks in So cal  I think Vegas is a great choice   1. you can drive there   keep in mind flying to other parts of the country to check on property is going to eat up 1 months rent if you go annually.2.

There will always be posters who come out of the woodwork who claim to be able to beat terms or meet borrowing expectations.