Little things like below/above ground sf can really throw things off too.

A good middle ground I have seen, is to buy traditional ones, and get an aftermarket machine that charges tenants.

In the last 10 years, there have been 2 new hotels built from the ground up. 

A lot of investors can create passive income by being out-of-state although it does require more networking and thorough vetting of the team you work with.Getting yourself connected to a local realtor who is familiar with the investing market will then hopefully allow you to connect to boots-on-the-ground teams and property management companies who can protect your asset(s) and your interest.Right now, the mid-west markets are doing really well - you can stretch your dollar further as property is typically cheaper but still allows you to hit a great ROI with the right homes in the right areas (this is where your connections come in).Social media, like Facebook, BP, and Instagram will give you insight in narrowing down what markets may interest you most - some of these can be hard to get into so utilizing social media to your advantage to grab off-market properties in appreciating neighborhoods will be key.Best of luck to you!

water lines in the ground last 60 to 100 years and do hardly any damage when they break.

I live in LA, am new to REI and have been in the learning and research phase.

They have started selling units but haven't broken ground yet. 

@Jacob Humiston, once you build up enough capital you will be able to get investment mortgages which require ~25% down but the upside would be that you don’t need to move every year.You might also benefit from mapping out your respective goals with your girlfriend, look for the common ground and get buy in to a plan that works for both of you going forward.

I like to hit the ground running hard and fast but what do you wish you would have known before entering real estate?

Thanks again for keeping me grounded and rational!