If you're going to do Student Housing, make it a full year lease (if that's the culture in Flagstaff) or make it a STR, but don't try to do both. 

The property has a 30" bathroom vanity that has deep scratches and stains on the cultured marble top and decent amounts of wear and tear on the body.

Sacramento is technically a central valley city, and up until recently everyone on the coast still considered it one from a cultural perspective.

I've been thinking about a few things, and had some pretty deep conversations with a friend who is fairly wealthy, and is building up his portfolio.Here's my circumstance.

We both want to start investing and building wealth Is buying the home together the first priority and going from there?

BTW Jay, thank you for the rehabbing business plan and your blog on Rich vs Wealthy as it really opened my eyes to some things.

My wealth is growing by 25% per year because Im leveraging, instead of buying all cash; but even then Id imagine the number might be close to 16% on these properties (of course you also have an inflation factor of 1%-3% too on top of that).

BUT, like mentioned in a recent podcast, you don't become wealthy on cash flow.

Buying a second home in our neighborhood mean a majority of our wealth is concentrated in two properties in one neighborhood.

We also would enjoy living in other parts of the world for a year or two so that the kids can live in a completely different culture and learn a new language.We enjoy our jobs and what we do....it's all about finding the right company and making a difference in the area we live in.