If the average days on market is around 180 days, then the property at +150 days is probably okay.

There is minuscule chance, an average Joe who wants to be successful in Real Estate, other than borrowing money from family, having many friends, raising capital via syndications, creating a Corporate Entity, ( which necessarily don’t impress me, there 100 unit apartments, over leveraged, I could do in my sleep!

Depending where you’re working (cost of living taxes etc), and if you live average or somewhat frugally, you could likely buy 2-3 properties in an out of state market in one year.

I look at Population & Job Growth, what major Industries/ Employers are in the market, major Airports ease of traveling from NYC to my new market, traveling costs etc, Purchase price to rent ratio I follow the 1% rule but in hot markets it gets harder to find.Markets depends on what you are looking for, if you want positive cash flow every there are a lot of markets that can accomplish this.

What would you say is about the average sum of holding and/or closing costs?

Average home price in the neighborhood is $159,000. 

To get into a little more detail on what I'm looking for: B- area or betterWithin 45 minutes of MSP airportAreas with a small town/ neighborhood feel are a big plusTown centers that could be in walking distance are a bigger plusAreas with above average school districts are another plus3-4 unit multi family property (small yard and garage are requirements)Potential for value add - completely OK with doing a live-in remodelWith that in mind, can anyone suggest a few areas worth exploring this weekend?

Dear my connections and other friends in the same industry, As a newbie in the industry, I would like to have following information.

Normally a personal residence isn't an investment, especially the way an average person buys a home.

Having just walked away from a job that provided my family with an above average salary, I wondered if I was making the right choice.