Also, I don't know if you factored this in but getting a mortgage on your homes will significantly decrease your cash flow, not to say you shouldn't do it.

Another exciting factor in this house is that it has a very large shop in the back yard.

And, of course, you would also factor in the cost of any additional loans you take out for construction costs if they're not included in your mortgage note or financing charges for the purchase of materials you put on a credit card if you go that route.

Once you factor in paying for furniture it could really skew your cash on cash return.

That includes making some serious lifestyle changes if your truly wanting to be a successful REI.

Aside from price, you should also figure out if the specific city you choose fits your lifestyle.

It depends on your unique situation, finances, real estate goals, the breakdown of this particular deal, etc...What was the deciding factor for my wife and I was that the pain we were going through was temporary.

Luckily, I didn't have a tenant yet, so the time lag was not a huge factor. 

@Lawrence Kutsovsky I think the biggest factor to consider is what is your goal, who do you want to be around, and who do you NEED to be around in order to achieve what you want to in real estate.

It's hard for me to fathom that this minor of a factor could be the thing that stops us from pursuing our real estate investment dream together, and although I am feeling down and close to giving up after today's news, I know that I can't.