Just a heads up* I tend to lead my community to doing runs-jogs-walks.

Well, I can tell you number one I wouldn't take a property down in the high side of the market even if there was a large amount of cash flow and the reason why is we're headed off a cliff brother.

With such a head wind coming from getting a commercial loan you may want to look at non-qualified mortgage products like debt-service-coverage-ratio loans or possibly a HELOC.

(I do moderately stupid daily so I am less concerned about that.)Thanks, AndrewYou hit the nail on the head, avoid doing anything "outstandingly stupid".

I just can not get my head around it. 

Unfortunately, in New York City the median price for a home is substantially higher than the US average.

I do think that if you got into something now, you could probably still head to the Midwest if that's what you ultimately are looking to do, but you could have a cashflowing property here in UT.One tip, work with Cherie if you haven't yet!

It's uncommon for a purchase unless you are putting down a substantial down payment.

We are also open to find a multi-family with a full basement unfinished or finished that we can transform to live in while we rent both apartments and live rent free for the next year allowing us to save a substantial amount of money.

Another option would be to “snowbird” and head south for a few months to renovate and rent, but will be tricky with daycare etc.Any advice for out of state investing / not getting burnt out / general advice?