Keep in mind that properties that can only have four guests are probably smaller and cheaper which could create easier potential for a higher cap rate/NOI. 

Rent until you can get out and then spread your money around less expensive and more landlord friendly states.Not saying that CA does not have strong RE values, I made a lot of money there before I left....but I believe that money spent in cheaper states will ultimately give you a better return (if you are smart about it)

Taking this stance to be the educator in your network can help lead to more people coming forward that also want to work with you.Now that being said, keeping someone on the debt side is going to be cheaper for you as an active investor.

Those units will be slightly cheaper and save you some headache and money.

Is it worth it to invest in cheaper, more stable markets to get my first properties under my belt?

We need a cost segregation report for a 32-unit complex and this should be a must cheaper option but would like to hear from people who actually used their services.Thank you,Gerardo

You’ll need to network with boots on the ground nearby, a good cleaner, maintenance person and light manager incase of urgent guest issues, this will still be cheaper than a management company. otherwise I would say look on airbnb to other listings nearby and contact one of those hosts and offer your listing for them to manage, this is still much cheaper than a a management  company and will be honestly more effective.hope this helps feel free to reach out anytime with questionsbest of luck, Mike

Yet I'm still too chicken to cash this house out and get an apartment building or something in a cheaper part of the country.Couldn't I hedge my bet though by refinancing $200K or so out to make some Midwest moves?

I'm sure there are others if you dig around.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

I have had some places quote me on the cash value policy (likely cheaper because it does not replace) if I made the mistake of not specifying the type of policy I wanted.