I'm leaning towards buy and hold in the multi family Class B sector. 

Make sure that no one employment sector (and no more than one employer) holds more than 15-20% of jobs in that city/region.

@Shanna Cox, great question.Investing out-of-state is a great option if:1) you have expertise in the area you are investing, or2) you are investing with a trusted person who has expertiseThe Texas market has great value -- a number of people are expecting a rise in Houston values over the next few years.

Investors get my expertise, knowledge and management skills.  

But as an investor in a private placement, you don't necessarily have to have the expertise of the sponsor/syndicator.

Tell them you're in Law School and you want to get into REI and can help them with your area of expertise.

Is there anyone that has an expertise in this market that can give me some input?

Instead, Congress decided it was better to offer juicy tax incentives to the private sector to take care of the problem for them (subject to fair-housing laws).

Not all HUD consultants, contractors or lenders are the same or there level of expertise.   

Any recommendations for a CPA in the Tacoma area with an expertise in single family  and short term rentals like Airbnb?