You should be able to purchase up to 5 properties with a mortgage before it becomes more challenging.  

With more challenges to conventional lending, a lower median income than Anchorage, and a little uncertainty in terms of taxation, staying in a rental might have it's appeal for awhile.I remember the decline from the eighties, this is not the same story.  

I've listened to most of your podcasts and I'm amazed how you guys turned the good old boring real estate biz in a fun attractive professional environment.

Each has its own sets of challenges..

You might burn some human capital (like, frustrate your broker/banker/lawyer or the other side) if you go under contract then find something you don't like and don't buy... but obvious I'd prefer to do that than to buying a house with expensive or difficult issues.I know from experience that FHA loans for 3+ family homes can be a little challenging (they have to meet a "self sufficiency" test, where the rents for the units have to substantiate the carrying cost of the property).

Makes for a fun environment.

One of my greatest challenge tends to be being tactful in explaining why a brick is a terrible life-raft!  

As landlords and facility managers, you can’t solve this resource crisis, but you will be challenged to control water waste.By taking the initiative to flush less water down the toilet, you can do more for your facilities’ overall usage.

I am a local investor in Fayetteville, and this town is definitely a buy and hold type of environment.

If the attorney's fees seem unreasonable (ie >$2K) then consult with your own attorney to review and challenge it.