But there’s no benefit to be gained. 

This will depend on your risk tolerance and your goals but you should consider starting with a single-family home to gain experience as a landlord and build your network.

Madison is also a great city to invest if you're looking to gain equity a bit quicker than other parts of the state.

Any information about land in reference to developing townhomes would be helpful Thanks @William Fuller Do you want to start small and gain experience in your market and then go from there?

I agree with most people in this forum that mid-term rentals are on the rise and gaining popularity. 

I'm a CA resident, so gains would be taxed as ordinary income.

Originally posted by @Cara Lonsdale:Having access to the MLS and your lockbox key will allow you to search for properties in real time and gain access/entry when you want to view. 

It's not profit until you access it in some form of cash.I've seen investors loss properties with equity (a few with a lot of equity) because they can't sell at a price high enough to gain that equity, or because they can't refinance it due to the negative CF,...which would increase with a new mortgage.

Because I benefit from more business oriented books I also like Who Not How and Gap and the Gain by Dan Sullivan and Ben Hardy.

@Rachel Seymour-NewtonIf the smaller property is a strong deal with solid cash flow and tenant demand, it could make sense to buy now and start gaining experience.