Simply owning some investment real estate does not make one a real estate professional anymore than owning some stock's makes one a Stock Trader....To qualify for real estate professional status (REPS), you must meet the following requirements:50% test: More than half of your personal services must be in real property trades or businesses.750-hour test: You must perform at least 750 hours of services in real property trades or businesses.

Here is an excellent article on housing market expectations on appreciation from one of the world's top investment banking firms Goldman Sachs: What are some of the big differences you’re seeing among US regions?
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If person X purchased 50 shares of stock at a price of $10.00 per share, their cost basis is $10.00 per share.

This is not a "real estate rental income" activity as defined by the IRS, so whether you are a REP or not, you can take this benefit.All of this is separate from a QOZ Investment, which would require you to first recognize a capital gain from another source (say a stock sale), invest that gain, hold it in a Corporate or Partnership structure (likely partnership), meeting the substantial improvement qualifications of being a QOZB, and then yes, you get to avoid the depreciation recapture at the end of the 10 year hold period, at least for the portion of your investment attributable to the original gain that you invested in the project. 

Whenever you subtract inventory and reduce the housing stock you get the adverse effects you'd expect.  

I've also seen people who squirrel money away and then lose it in the stock market or some other investment like strips or something . 

It's only 3.5% down + closing costs and reserves.Work your day job, mow lawns, leaf cleanup, shovel snow, flip furniture, pick up night shifts waiting tables/bartending, stock shelves at home depot overnight if you hate talking to people or anything else.

The guaranteed income can make things a lot more predictable!

I'm not sure if these high tech salaries will continue, some of them get compensated via RSU (Restricted Stock Units) My suggestions were to house hack (if they're still renting) or within a 2 to 3 hour drive.

No real strategy, just wasn't good at the stock market so I tried real estate.