I think the economy has a number of diverse employment options, lower prices than King County while still being within driving distance.  

My goal is to diversify with an investment that generates steady cash flow, even if it requires a larger upfront investment and lower overall returns. 

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

Make sure you have that addressed just from a liability standpoint. 4) You could also look into a mid-term rental option with traveling nurses if you think the unit is truly rentable. 5) AirBnB restrictions have gotten much stricter as well in general in Chicago, so make sure you are on the right side of those if you put your unit up since you are required to register with the City.

If you can’t do a 1031 to a non-income tax state, figure out a year when you will have lower income and tax rates ar as low as possible.

Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1). I am interested in buying a long-term turnkey property in a nice area...

I suspect there would be massive blow back if the feds attempt to lower sec 8 rental assistance. 

If you don't meet that 12 month seasoning requirement and/or want to hold the property under an LLC, a debt service loan may be a better option.

If so, this is the RISKIEST option.

What's better for heating gas or electric? Building a cabin in a tourist destination that does not have easy access to gas or electric.So I will need to run electric line anyway and considering installing underground ...