A lot of people say it can be done, but there are lot of things that get in the way that you cannot control.

@Skip ReathWith 11 units you control almost 1/3 of the votes, correct?

That is, "the state" controls when the vouchers are sent out, and the counties have no local control over it.  

I'll just say its more than enough to pay an annual salary. 99% of that work is damage control. 

The risk is you lose control over the rehab side and are relying on the contractor. 

His take is you can either own real estate outright, fee simple ownership, or control it via the use of triple net leases.

Internet rates are irrelevant to me as they are out of my control and I can pay the mortgage off in 4-5 years if needed.My target property would look like this:2-4 unit $125-175kPut 25% down Start in AZ, but potentially add Las Vegas and eventually Atlanta as potential locations for investments.

@Rachel AshConsider sharing the following banking guide with your banker. https://www.biggerpockets.com/blogs/3441/45149-solo-401k-bank-account-tips-self-directed-401k-bank-account-guideCharles Schwab also offers a brokerage account for a solo 401(k) plan that allows for checkbook control.

Add in lack of control (even if you are on the HOA board) as the final blow.

Takoma Park has them but the rent control there will kill you.Keep in mind that even in the places I mentioned they only exist in extremely small numbers.