From what I can tell, he essentially studied population growth trends and cleverly bought land at the right time near the developing Pennsylvania Turnpike.

Study the market like crazy.

My own exploration/study found that IF you could get a property for $60k in the Midwest AND rent it for $700, that the state tax man was gonna take $200-$300 a month in property taxes.  

What I would suggest would be to really study the market on where you want to end up. 2-4 is insane price wise.

This question is for you seasoned mf investors out there. I'm trying to learn more about how you might look at property so I can refine my own criteria and become more efficient in my analysis. For this example, let's...

I’ve just begun to study it the past year and I’m not one to go into something before I have more of an understanding.

Once you have your two years tax records step up with 100K to begin.In the interim you need to study finances, and real estate investing.

Some will try to get over in the short term, but most will understand that this situation isn't going to last forever and eventually the music will stop playing. 

I certainly would not have paid her exorbitant tuition fees to study in front of a computer.

The reason I go into so much detail here is because it was the progression of studying, questioning, acting, and trusting that led me to a great buyers' agent who I'll work with repeatedly as I grow my portfolio.