If you spend all of your liquid funds on 1 rental then all of your eggs are in 1 basket.. not the best idea IMO.

Maybe you don’t put all your eggs in one basket.

Physical constraints think SF bay Seattle  etc.. there is not a great amount of area to expand into level easy to develop farm land.many of the rentals you will see will be 50 to 100k in the bread basket and those prices just kind of trundle alongin our markets on the west coast only about 10% of SFR's are rentals.. in many of these other cities this number climbs to 30 to 40% and in some markets over half of the population rents. 

That would offer the added benefit of not having all of your eggs in one "basket" (i.e., handyman).Shawn

Having all your eggs in one basket definitely exposes you to too much higher risk, even if you are only 27.

Hope the information from everyone here has been fruitful, would love for you to keep us posted on your journey. 

Don't put all your eggs in one basket theory I guess.You can use the equity to put a down payment if YOU can make it happen.

Putting all your eggs in one basket can be risky, especially if this is your first OOS-rehab. 

Don't go cheap on the basket strainer and waste line either, use metal!

Do you want to put all your eggs in one basket and buy one large property (MFH) or a few SFH spread out?