My one tip would be, its not about getting wealthy quickly, but more long term.

However, after accounting for long-term capital gains tax and other expenses, you would be left with $150k which is important to budget and account for.

In Denver metro area, for instance, the city of Denver only allows short-term rentals in a primary residence.

On Long Island 250k won’t buy you a house.

On the negative side no one wishes to rent long term here!

I was last getting terms around 5-6% for the first 5 years, then floating with prime, 20 year term. 

Even at $2200 I don't expect to get a positive cash flow for the first year, but that's okay as long as I rent it out and learn from my mistakes for my next investments.

When a Class A apartment can be had for the same price as a Class B/C renovated unit, the B/C operator drops prices, and so on.But, in terms of making an investment decision, I think it is short sighted to rely purely on full market average data.  

We do our best to build long term relationships with clients.

Passive income is certainly the name of the game - building a real estate portfolio and creating generational wealth are key ingredients to long term holistic financial health and success.There are fantastic real estate investment opportunities in various markets, particularly in the Midwest and Southeast of the country.