Yet, most people sit on the sidelines waiting for a better spot because the Case Schiller index is hovering near 2008 levels...12 years later.

The closest thing we have is the Cromford Market Index.

S&P/Case-Shiller OH-Cleveland Home Price IndexS&P/Case-Shiller AZ-Phoenix Home Price Index 

@Jonathan Hudak you have to make some assumptions in order to analyze your options.If you assume average appreciation for the area on the home over a 10 year period, trend the rents at historic levels, add the principle pay down, add the tax write offs, add then subtract the capital gains and depreciation recapture….Does that outweigh the return you might receive on $100k invested in an index fund at 8%?

Many believe that you should invest in your backyard first, but if you have a trustworthy team, are in a market you may know because you lived there at one point or something, and it can be a turnkey property, that may be the way to go.Having a turnkey property for your first property may be like investing in an index fund--safer and conservative. 

In the short term, it may cost more.I find this index to be helpful in this case:http://htaindex.cnt.org/For the record, I do plan to leave NYC.

An adjustment allows the lender to adjust the rate to an index at that period of time.  

This is where you can make your money stretch further by doing a BRRRR on a multifamily, this could also be done on a single family home.I would not do wholesale due to its such a hard gig to do.I mean with 1M you could just have it sitting in the index fund and your set for life, making around 8% a year. that's like 60-80k a year!

I would first try some bandit signs, driving for dollars, craigslist ads, index cards at grocery store bulletin board, etc.  

A mailing list may be in the form of a manuscript list, directory, Cheshire tape, Dick tape, gummed labels, index cards, or other similar means of communication.