Maybe they aren't into real estate but they started their own business or got an engineering degree and went to med school.It sounds like you would like to enjoy some things you could afford but that your friends cannot.  

And it might not set you back more than 15k-20k give or take depending on the requirements, bank requirements etc.I agree with Joel, speak with an experienced broker regarding potential retail & med office ideas.  

Surely appreciate the 5 steps just for me! :D

He tells me he is sorry and his mom is on lots of meds.

It's ordinary income, at normal income tax rates, plus 15.3% (both sides) of Soc sec/med. unless you're taxed as a sub s, and already have a reasonable salary subject to the soc sec/med.

Low, Med, or High End Pricing?

This neighborhood is very close to major thoroughfares and the best hospital in town with a med school.

If they have to actually check the availability to see, rather than know offhand, that's a good sign.Get a realistic low/med/high on rents and vacancies - and remember there's a tradeoff between the two.

This is because it will be rented to med students by the room.Joe VilleneuveREcapsystemA2REIC

First son says "I'm taking my cash and going to med school".