Even though I got hit hard, I still have a burning desire to invest in real estate and create wealth this way.  

It's not quite liquid i get that, but seeing as how you only pay taxes on money you've earned (short term) under a year when you withdraw money out of the stock market after recently having put it in there is that not a good idea?

While I can understand some of the desire for rent control there are other more practical and productive ways to assist families in need of housing (IE fix the broken section 8 programs around the country)  I would prefer however that all of you out of state investors get out of "our town" so that the prices can go back to normal for us locals, which should in turn help keep rents down a bit locally .....

The area is desirable; and the lot may have other revenue producing opportunities.

Whether you realize it or not you have taken the first and second steps: 1 - Have a desire and 2 - Education.

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I am tired of having our chunk of money sitting in a savings account that earns hardly any interest. 

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The house is in an A+ area, is right next to a great school and is highly desirable - people don't sell often in this neighborhood.

Highly desirable and absolutely amazing neighborhood (I would argue the best neighborhood in St.