Take into account variables like affordability, property taxes, rental regulations, and vacancy rates while doing in-depth market research to find viable investment areas.

Speak with a tax professional. 

A bunch of muni's (tax free), some treasuries, VOOG and maybe 10% to dabble in real estate. 

I bought 10 acres of vacant land in Joshua Tree CA at the county tax auction. 

Can I avoid paying capital gains tax some how?

Tax Considerations: What taxes should I be aware of for property management services, even if the properties are mine?

They do require that a permit be acquired (super easy) and hotel tax get paid (a little more complex but there are ways to make it easy), but otherwise there are no regulations to speak of.  

I moved from NorCal to live and invest in Reno, NV because I still wanted to be close to the Bay Area but wanted to have much more favorable landlord/tenant laws, low property taxes (that don't reassess on the sale), consistent diversified job growth, and land constraints for higher appreciation. 

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

This is an opportunity to confirm they have the expertise you need.