For a house like this, we will probably get a single parent with 1-2 kids and this size house will be perfect for them.

However, keep in mind that any salary deferral must be from THAT income source - you would not, for example, be able to put any money earned from your military service into your Solo(k).With either type of account, the IRS permits you to buy and hold Real Estate as long as it is not property you or any of your disqualified parties (parents, spouse, children, children's spouses) currently own, have ever owned, or currently live in.

Also I'll be living with my parents for a while to save up money and have some time to learn the syracuse market.Most of the houses' I've seen are in the 60-80,000 range.

Are you a parent educating a 18 - 22 year old?

I have a S-Corp as the "parent" company, then a LLC for flipping/wholesaling and then several more LLC's for the buy/hold properties.As mentioned above, a good CPA should be able to help you set this up.

My parents put a small amount of money in the stock market in the 1940s, lost it and were forever leery, never investing in stocks again.I've done pretty well in my stock market investments over the years.

All I know is what I have learned from my parents who have been in the industry for nearly 35 years.

Or one of your parents that are sick?

I became interested in Real Estate investing because my parents are both real estate agents and have been pushing me to get involved even though I have a really good full time job at the moment.

I am VERY familiar with what happens to properties in this circumstances and how easily the tenant can make the cit withhold rent.