Boston proper doesn’t make sense cause so expensive.

It has a port, airport, good mass transportation, arenas, low taxes and close to NYC.. the thing is, everyone is waiting for the city to turn around as a whole like Brooklyn and Harlem did.. the old mayor Cory Booker brought in a lot of outside interest and high profile names.  

The Boston market is extremely expensive; if I am willing to invest out-of-state (which will require my finding a great management team), should I use this as cash for a single property, use it as a down payment for one property, or for multiple simultaneously?

For example private Equity, dry shipping and transportation are 2 others I can think off off top of my head.And yes those K1s can be a pain!

When an applicant questions why we need them to show us proof of income or income equivalents of 3x or 2.5x the rent, we explain it is so we will know they will be able to afford their rent in addition to their other living expenses such as utilities, food, clothing, transportation, medical care, recreation, home supplies, home furnishings, etc.

For example, my very first few multifamily properties in the Boston area in the last 8-10 years or so have had almost 99% vacancy rates, i.e. 1 month not rented out of 120 months.so if you take that into consideration, the upside is that returns up here are not great if compared to other parts of the country but you do get a much higher occupancy rate than most areas.

I see you are from Boston. 

That means that the neighborhood had to be safe, have some amenities such as a few decent restaurants, reasonable transportation options to work, etc.It forced me to be a Landlord.

I might be A LOT wealthier if I had a mentor whispering in my ear at that time and didn't WASTE $50,000 ($100,000 in todays money) on an MBA from Boston University instead of buying up some of those condos etc.  

That's a rounding error in any significant commercial real estate deal anywhere in the U.S. and in any substantial residential deal in SF, LA, San Diego, DC, NY, Seattle, Boston, Miami, Chicago, etc.