In hindsight, it comes down to what each of you value and what you can come to in terms of agreements.

I have read the horror stories about SB, but I am wondering if the area around the college is any better in terms of renters and neighborhood. 

But I’m conflicted on where to start in terms of building a strong foundation in my portfolio while still having enough velocity behind my money to grow.Should I start with a SF rental and hold for the 1031 deferred (4 greens and a red type strategy) or go after Tax / lien sales to flip/sell in the short term until I can afford a multi family property.

The owner/seller doesn't get hammered so hard, in terms of damage to their credit.  

You need to think of everything in terms of assets and liabilities. 

But it’s good to hear you want to narrow things down a bit in terms of what you’re looking for and the funding.

Don't ask them to "sit down" with you, speak in terms of their needs and explain that most people find it very helpful early on to get a step-by-step overview of the home buying process so they know what to expect at every step along the way, which is totally true.

In terms of what one could cost.

@Rich Hanlin every lender is different and have different appetites, offer different returns and have different requirements so you will need to shop several.They will look at the property in terms of the cashflow to cover debt service. most will want 1.25 min DSCR they will look at your credit and financial strength including income and  cash reserves to qualify as the guarantor.

@Lance Queen how does your property compare to others in the area in terms of price and amenities?