What return could you get, if you took that $1M, and invested it? 

@Travis Hardy, I won't dig into the details of your analysis but I think I can give you some things to consider in a general sense.The typical buyer is NOT analytical. 

If you haven't invested OOS before, you really should fly in and get a feel for it if you aren't buying turnkey.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

That can typically be structured pretty easily with a will.

----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Investment Info:Townhouse buy & hold investment.

The reverse process of converting an investment property into a primary residence also has some similar benefits of converting taxed gain into tax free gain. 

A lot of out of state investors reap the upside potential of the Nashville market (and protect themselves from some of the downside) by investing in the high-growth (yet moderately priced) secondary markets near Nashville (i.e.