I've closed a handful of Wholesale deals and I'm taking my Exam to get licensed tomorrow (just so my foundation is stronger), all of this while being in school.

If you are living at home for free and comfortable doing so then stay there for a bit and save as much money as possible so you are in a stronger & less risky position when you do decide to buy. 

Your LTV will be more conservative and your revenue stream stronger with lower debt service when you buy in a market where house prices are $100,000 versus $200,000 or more in a high-cost area.ROI is greater when you invest in out of state markets that make sense.

Most HOAs have some rules regarding rentals, and are in a stronger position to stay on top of the rules.  

The advice from Joe Splitrock is spot on.Not sure how long you've been a tenant, but the longer you've been a tenant, the stronger position you're in - if the owner only has 1 or 2 rentals, it's more energy to replace a long tenant (more repairs, uncertainty they aren't used to, figuring out market price).I'd approach with something like: I've really enjoyed living in this house, but it's time for me to buy my own place.

I find the gravitational effect to be much stronger there.  

I will head that way and try and spend a few days and hours in the other markets to get a stronger feel.  

Hi Jay,I'm also Australian (currently living & working in Vancouver, Canada) and just had some thoughts on your post - If transferring any money over to US currency, for your investment deposit or to pay for ongoing operational or capital expenditure expenses for example, you may need to consider the exchange rate as the US currency is significantly stronger than the Australian dollar at the moment.

. :-)Here's the other thing, maybe once you do this for 6 months or so, you can then reposition the building for sale as a market space with stronger income numbers and might have an easier time moving it once you can prove the model makes more money that way.You might even be able to sell it to the market operator next door.

Along with a stronger focus on civics/informed citizenship, I personally think it's long overdue.I know that some of the schools where I grew up are now having smaller, once or bi-weekly courses on civics or "health" (which covers a broad range of topics).