Yeah Uncle Sammy said it's now T-town and that a dog-scat deal so to kick-rocks. 

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I don't think we will be able to afford a 1.5M+ mortgage without a huge down payment (sale of our house).I feel this would be going backwards as we would focus on one property preventing us to do other things.

That being said due to the number of sharks out there I would only spend money that I can afford to lose. 

Given your goals, Indy could be a great fit—affordable pricing, solid appreciation, and strong Section 8 demand with reliable property management options.

People start moving in with their TOH homes (back in the day when everyone could afford one) and the park starts to fill up. 

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Memphis has a pretty affordable housing market and tends to offer solid rental yields, which might align well with your goals.Let me know if you need any more info or want to chat further about this.

About me, most of my assets are RE but in another market so I would be diversifying in that market.Potential for appreciation is very uncertain: prices have risen a lot locally lately and are as high as they have ever been, and it’s unlikely higher prices would be affordable by locals.

Originally posted by Dave T: Originally posted by Steven Hamilton II:@Tony Bc , Since you live in Missouri and both you and your wife are members of the LLC, YOU MUST file a partnership return.