@William Coet it’s a different business model altogether.I love highly desirable areas that attract highly skilled high income college educated workforces.They tend to be more liberal and therefore the landlord tenant laws.The percent of their income that goes to rent is typically much less than 20% so a rental increase of 5-10% is nothing to them.They are typically lower cap rate areas and therefore every dollar of net operating income that is earned is explosive to the underlying asset value.

Hopefully you have that HELOC money earning interest for you in the mean time.

The hourly wage Id earn on that after paying expenses and taxes would put me at half the median income for my metro area.

You will need an Accountant to help figure out the EBITDA or Seller's Discretionary Earnings(SDE) for you and compare to the Tax Return to make sure it all looks good and makes sense.

I do get a lot of “push back” from both real estate and non real estate people on it due to the negative (sometimes earned) connotation that comes with it.If you made it this far congrats.

So...am I shooting myself in the foot if I buy an investment property now (out of state) to begin my real estate career, and lose out on the ability to use an FHA in LA down the road?

What kind of hold period do you need to achieve the 16% IRR  while you are earning the 7% monthly rate?  

Hey Kylie,Your question hits home for a lot of us trying to make the most of our hard-earned money.

It also matters, depending on the locality, if you live and/or work there and what type of income you are earning.

Make it easy for them to provide their details.Anything less will waste the hard-earned money you’ve spent—even if you’ve selected the best keywords, written the perfect ad copy, and utilized every cost-efficient Google feature.In the world of Google traffic, a first impression can often be the last impression.And I’d like to ask you:Have you seen pages like this from your competitors before?