I have not received an increase in salary in the last 7 years.Clearly that made me find ways to make passive income to have more security and peace of mind.

Currently my net worth is split 50/50 between real estate and stocks which gives me peace of mind as I’m diversified a bit.

And peace of mind has some value.Personally I have 7 properties in The Woodlands, Tx area.

“This is very much like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved to be untrue.”Models of risk that prove to be UNTRUE.

If the idea of having outstanding debt is mentally draining it's great that you could easily pay it off and just give yourself that peace of mind. 

-You Have The Flexibility to Experience Life In A Different WayInstead of spending the money on college, you could spend a fraction of it on traveling the world, doing a gap year, joining the peace corps, going on missions, etc.Those experiences are extremely beneficial for your personal development (but as a heads up without college, you have to be self-reliant on cultivating your own personal growth).

Now for a first small property you may only need $10,000 to $15,000 up front if you use a low down payment loan, but you’ll want some cash in the bank left over for peace of mind.

My first thought was ‘I told you so’.Pulling a permit is a small price to pay for peace of mind.

In the end you really will need some a good local contact that can help you identify the right areas and properties to meet your goals and allow you the peace of mind to invest and keep investing.I don't know anything about the prospects in KC but I can help out with Cleveland specific info if you want.  

Find a job you love, grow your RE business at your own pace, and someday you'll be pulling in enough from your business to have the peace of mind that you could live financially free if you had to.