Just use the debt wisely and you'll be fine. 7% is high but if you get the right property that still makes money (or that you enjoy living in), you can always refinance. 

The whole point of investing is to enjoy your life more, not less!

Currently living in Madison but looking to invest in the Milwaukee area as prices aren't as crazy it seems.

Even my personal prop to live in I find and negotiate.

The only reason you would want to try to find a market to flip houses in that isn't the market you are living in is because you can't afford entry level homes in your market.

Here are a few reasons I want to move into this industry: I love property (and would love to own it around the world), I enjoy spending time with family and traveling, I want a more flexible life down the line so I can spend more time doing the things which are important to me.I am looking for someone in the UK or European market and would like to have a stimulating conversation with you to learn more, and I would love to offer my time and energy to help you towards your business.

I enjoy networking with private lenders and ending deals to and from

My family and I would live in one of the units in order to be able to do this, and there would be an additional 3 units in order to get the full amount of the FHA loan. 

I think some of the newer construction is sitting well above current market value and could be in jeopardy if the market adjusts or the economy continues to fluctuate with inflation.Depending on where you live and what your comfort level is there are several other states that can offer a better cash flow for a similar price range.  

If you live in Philly, you should know which are the go blocks and the no blocks.