I'll be starting grad school soon in January 2016 with a concentration in real estate.

This is similar to, but not the same as, the yield of beans in China, since China is the most populated nation on earth and the yield is much higher, (which is due to the poor air quality in China and why bean consumption is regulated) with the yield or output being much more concentrated over time.And, why hard money lenders usually don't chase tax liens in Texas, nor do they develop lists for investors to purchase with their funds as they rely more on the security interests in a property rather than a UCC filing.   

That said, it's also important to concentrate your research in not too many countries as the rules about real estate might change thus affecting what you think might be a very good investment.Luca

Concentrating only on high end rentals means that you are more vulnerable to a market downturn.

I did contact the agent for a listing and was told that it was a for sale by owner that wanted to concentrate on fewer bigger properties.  

I'm not looking to steal "your guy" (not investing locally), but we're looking at buying the house right next door to my folks, which has been recently rehabbed, but the rehabbers concentrated on a few specific items and not on a number of other things that obviously need updated or fixed.

Concentrate on the damage and the deposit you are holding.

It is a good thing that you have some neighborhoods in mind and looking to concentrate on those areas!

Instead, concentrate on finding a company that will give you the education you need to go out and make those millions.If you go with the per fee, discount brokers, you may not get the training you're looking for and you'll probably get thrown into the lions den... and you won't be coming out of it.Plus, just because you sign on with a broker doesn't mean you're there for life. 

If you are a lawyer, high level executive, or something else that pays well but takes most of your time/concentration, then I think passive investing is a great deal.