Sounds like you are in a pretty strong financial position.

Buying an investment property at 21 shows amazing foresight and financial responsibility.

However, if you have money and are looking to buy investment property there are many, many better places to invest than Austin.  

Please let me know the financial implications. 

My answer is: Invest in the market you know best.Within Dayton, there surely are decent neighborhoods to invest in.

To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

I have about 1$110K to invest, and I am looking to invest in the next few months. 

I think it would be financial suicide to give up a 500k a year job that you know how to do and is secure to launch into thinking your going to replace it with rental income.. unless your sitting on 5 mil plus in  cash with no debt.

@Josue RamosRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

During the 2008 financial crash, low paid, low skilled workers were laid off in droves.