I would have enough to buy about 4 properties in cash if I draw 75% of the money out of 3 out of the 4 houses and combined with cash on hand. 

The combination of good jobs in a diversity of industries, favorable climate, and liberal policies have been attracting people from all over and there is no sign of this trend stopping.

Some cities such as Philadelphia would have higher rental yield so that might be a good combination of supplementing your income and building long term wealth. 

I would likely keep this PM.The asking price is $24,900, combined rental income for both units is $790.00, fixed expenses are $107 monthly, other expenses are $364 monthly (mowing, repairs/maintenance, water).

@Yoni WeisbrodHa...analysis paralysis be thy name (ok, not really cause you're asking good questions, but do not let questions hinder you from action).It requires a combination of patience and boldness to be successful in this, from my experience. 

Combine this with the rampant printing of money we are likely to see inflation coming.

Further, your sister will be living in one of the units so that's creative investing combined with house hacking. 

My hypothesis is a process like this occurs, (this is likely too simple though to be predictive):Population Growth (Natural) ---> GDP Growth ---> Job Creation ---> Domestic Migration ---> Increased Personal Income ---> High Property Prices (assuming constant supply)Macroeconomic Demand Factors (individually or in specific combination):Increasing populationPositive net migrationIncreasing GDPIncreasing total jobsIncreasing Personal Income/CapitaIncreasing average earnings/jobIndustry DiversityFavoured IndustriesMicroeconomic Demand Factors:SchoolsCrimeWalkabilityChanging demographics/area reputationetcI look forward to your comments.Regards,Jacob

Starting off with flipping in New Jersey, with the goal to use a combination of the capital we pool together from our flip profits and using the BRRR method to get rental properties. 

So seller finance for $600k (5% interest only - $30k/yr for 3 years) and you're fighting for $585K ($417k jumbo and $60k in second, which combined payment will most likely be near $33k/yr, though amortized).