I think he's in the process right now so I'm not sure how it's turned out, but last time I spoke with him it seemed that it was going well.I always tell people looking to do co-living that there is a certain amount of risk that you have to be willing to take on.

David,Yes, investing out of state can be a wise choice especially if you live in a State like CA, NY, NJ, CT where home prices are over priced and taxes are brutally high.

i use apartments dot com for screening I do live locally should anything arise.

I would probably work with an attorney in North Carolina (or wherever you live) to do some estate planning since you do have young kids.

However, the units I see myself living in all barely break even on cashflow.

@Matthew Drouin I haven't even dreamed of doing what I'm talking about but research the subject I've been brought to various YouTube video offer case studies & case analysis which would have me to believe deals can be done by lone individuals without any capital of their own being spent.

So now I have both my personal residence and a leased property as STRs.Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.Here are some key things I've learned:Regulations: Research the specific STR regulations in the state and city where you're looking to buy.

I'm more interested in purchasing 10 homes to have fully paid off by the time I retire, as I'm not living on the cash flow w/ current job. 

As a CPA who lives and breathes real estate taxation, I've noticed something interesting that I want to share with the BiggerPockets community.

The alternative is to go with a single-family home, live in it for about 1.5 years, and then purchase another home while renting out the first one.