You might want to listen to some of the BP podcasts on some of the other ways that real estate "pays" you, outside of cashflow.Keith Weinhold from Get Rich Education also has a good podcast and regularly discusses the 5 different ways that real estate pays you. 

State propositions could undermine new real estate investments too. 

Your Core 4 Real Estate team will play a very important role in your success.As for other markets to check out, it really comes down to what you're aiming for. 

Once you have stabilized your primary residence and rental properties, consider additional real estate investments using the equity you build.I hope this helps!

Still working on timing my transition from stocks to real estate.

We have been learning about real estate investing since Aug 2015.

Quote from @Michael Dallas: Real wealth is built by holding onto property.

Real estate prices and construction costs vary significantly by location, thus, it could make sense depending on the market your planning on building in. 

Thank you for a real response. 

So you can't just get a pre-approval for all properties like in residential real estate, but a pre-approval for the exact property you are going to make an offer on (Is that correct)?