Especially when we have inflation that's WAY higher than most real estate debt, it rarely makes sense to pay off the debt....my debt is at about 3.25%, but inflation is over 8% --this means I'm literally repaying the debt with money that is worth less now than it was when I borrowed it.

There's quite a bit of artificial inflation in the market.Feel free to PM me.Thanks,Cal

I don’t know if I would tie up my money in a rental with the housing market being this high and inflation around the corner.

You have to add a little for both labor and material, we have had a couple years of inflation.

2) If I wait, where do I part the funds so that their purchasing power doesn't fall through the floor due to the current rates of inflation?

If it covers all in cost with some accruals, and you’re planning to live there for next 5-10 years, then it might be a decent investment as it will cash flow due to inflation and assuming appreciation.

Even at 7% I am still borrowing below the rate of inflation....that might be a hard concept to measure...but you are essentially getting free money when it's like this.5.

Currently contemplating on which market to start, especially with the current climate (i.e. rising rates/looming recession/inflation, etc.).

Noooooo - you're smarter than your previous self, you have knowledge of real estate from your career as a realtor as well as resource contacts, and it's a great way to diversify your portfolio with added protection from inflation, stock market volatility, more. 

The problem is inflation.Unless your rental income rises faster than inflation, you will not have the additional dollars you need to compensate for the inflated prices, so you are back on the treadmill.On Initial ReturnThere is a strong correlation between prices and rents.