Frisco is a great place to live....I always say be careful with a one number school ranking. 

1) Memphis is still one of the highest-ranking cities in terms of cash flow!

Even with PM it still takes more effort than LTR.Some may differ on this ranking and I do not have direct experience in all of these, but here is my ordering of most passive to most work for RE activities:Syndication, NNNNotesMF LTR with PM (per unit)SFR LTR with PM (per unit)STR with PMMF LTR without PM (per unit)SFR LTR without PM (per unit)STR without PMwholesalingflippingThe two at the top and the two at the bottom are the ones we do not have experience with.As you can see I have STR as more effort than LTR.

Here are a few additional considerations and elements that you might want to include to ensure a smooth and legally sound transaction.

The neighborhood around USC might not rank as a "B" or an "A", but the growth has been phenomenal and tenants have been consistent.

I would tell you to continue to leverage your W2 job and move upwards in those ranks because it will be the fastest way to have excess funds to further leverage your real estate aspirations.My wife and I self managed 20 rentals while each working a full time corporate job.  

@Steven Tawresey I'm having trouble following your example because there is no time element.

You're right about Boise being a hot market...really in the top 5 from 2013 to 2021 consistently as far as price increases and population growth, as well as ranked places to live.

Shape of property; - Ranked:  Rectangle, square, all others. 

Real Estate Investment and Commercial Loans are going to likely be out of their element.