Please let us know what you think about this concept and any comments or questions that we should consider as we flesh out this business idea.

@William CoetYou're mixing together 2 concepts.

I'm hoping to get a proof of concept property under my belt to begin with.

It depends on what is your tax basis in the partnership, a very complicated concept on its own.

So far my research has led me here and through many, many YouTube videos and articles, but there are still some concepts that I am not grasping.

@Raj SHa you can try east/south or South East Austin...Elgin, Manor, Del Valle (DV)...you can get something for 275-305K and you can pretty much break even with rents around 1400-1800 but u put 25 -30% down...however this part of Austin is not preferred due to low household incomes, poor schools etc....but DV is now new home to Tesla with 50% of employees to be within Travis County itself with salaries around 50K/yr typical blue collar jobs and these are ideal folks for long term rentals..plus google velocity/domain type mall under construction etc...plus there is huge possibility of Tesla suppliers moving here as well.

@Matthew MooreI like Brandon Turners books about real estate investing a lot, they break down the concepts well and help walk you through how to use them.

This was after researching and educating myself on real estate for over a year.Add alt textSoon after I got my first investment property I was really intrigued and was hooked on the concept of passive income and the associated tax savings via the tax code.

Not just real estate, but basic financial literacy (like how compounding works, what a security is, how does a lien work, how to read your credit report, & other basic concepts). 

Also, demographics are driving much of this - millenials are in their prime household formation years as we speak for a few more years.