I'll be watching for a success story from you in the not-too-distant future. 

I was born and raised in North/Central Austin and can recall not so distant past when my 1bdrm apt in Far West area rented for $500/mo.

I have a strange feeling that the market is going to take a down-turn in the not too distant future, so I'm going to avoid trying to buy and hold for cash-flow just yet.  

I also may move to SC in the not to distant future so that has also caused some hesitation to pull the trigger. 

If, however, these are not family/friends and more "distant" relationships then they'll will likely want to see more of your history in this business.Why are you looking for a way around it?

@Scott Schultz@Nate MooreBeing completely or almost completely free and clear on your portfolio seems like a distant pipe dream for many investors.

I never said it was the tooth fairy, I was just pointing out that where the savings come from is a distant second in the discussion, in my opinion - hence the use of calculators.

Also, be careful when folks try to pitch you some of the more distant inland communities because while they may sound attractive with retail pricing, they aren't necessarily the best locations and will feel the pinch first in a softening market.

A few hiccups during the build-out, but they seem like a distant memory now.

Because there are three, not one, reasons to invest in rentals, in that order:Wealth building Cash flowTax benefits (a distant 3rd)If you're strictly talking about tax benefits, you have them even when your losses are locked up, for example:You can have positive cash flow which is not taxed, due to depreciationYou can refinance and pull out equity in cash without paying taxesYou can upgrade to a bigger property without a taxable sale via a 1031 exchange