Investing in multiple markets can mitigate risk and provide exposure to different economic cycles.

I hope that won't be the case as it would be an ecological and economical nightmare for the region but it's hard to see how that can be avoided, given that the root causes of the problem seem to be getting worse, not better.

I've refined and updated my buy box, currently SF detached houses built since year 2000, with 3 bedrooms, 2+ baths, central air, and 2 car garages, in areas with good schools, low crime and economic growth. 

Multifamily properties are a fantastic way to start, especially for building a solid portfolio and generating consistent cash flow.Madison and Milwaukee are great places to look at - they have very robust rental markets and economic stability.

Otherwise I'd suggest looking into other affordable markets that have a good growth rate & other economic drivers. 

Similar to Fort Worth, Austin's unique economic advances can be attributed to a steady increase in housing, and an attraction of major businesses and employers, according to the report.

Real estate markets can be volatile and subject to local economic conditions, potentially putting all your eggs in one basket.Liquidity ConcernsReal estate is an illiquid asset.

In discussions with the water company, it's not clear it'll make economic sense to separate the line into 3 separate lines.  

I would say best case is that given political climate, those in control of economic directions take a step back from all political influence as it poses a no-win scenario, and heavily relies upon guidance, direction and leadership from economic/finance professionals to a degree much more significant degree than prior.

REPS was actually an incentive purposely put in the law to encourage real estate economic activity.Regarding your question, it is my understanding you would not qualify for REPS, but if you have a more aggressive CPA, they might be willing to make the case.