It's just gentrification process from baby boomers/old timer settler to the new tech generation. 

Disagree with this, you still have HVAC, turnover and roof repairs in multifamily which could just as easily wipe out your cash flow. 

An old guy (to me then--- Im an old guy now) who owed dozens of homes all overe the central states once told me:"They keep makin' babies but they dont keep makin' land"  Ive either been a mortgage broker, real estate broker or appraiser since 1980. 

Like you, i'm new at this and a bit fearful to take my first baby steps but have all of the faith and support neccessary to make it happen. 

A short-term rental property is a baby of a kind.

My husband and I met in the Coast Guard, married and just had our first baby.

Have a baby grand piano, sure bring it.

To wipe out capital gains, you can invest in private real estate syndications where the work is done for you, and inside those deals the sponsors can take care of doing the cost seg to offset the capital gains.

The junior deed of trust has an outstanding balance of ~$700k (will be wiped out via the foreclosure) and there aren’t any overbid funds for the holder of the junior deed of trust.

However, the rents are slightly lower and could potentially wipe out your monthly cashflows with one major repair.As for higher appreciation market like West/East Coast, it's more expensive, but rents are higher due to a strong labor market, there will be a certain amount of demand for those markets, but the downside is that you will need to be creative by adding more values for the property.