This semester I am taking a real estate investment class and part of my final project is to identify regions within the United States that we think would make smart investments.

These metrics are reflected on a project level as well as performance for to the project sponsor and investors on a pre and post tax basis.Let me know if you have interest or need for such a tool.Best Regards and good luck in your real estate activities.

Selling would allow you to payoff debt and hopefully have money left over for another project.

@Diego Figueroa I'm in the middle of two small subdivision projects (4 homes and 3 homes, respectively), but they're in urban San Diego City proper. 

Vacancy should be projected to at least cover one month of rent.  

@Adrian Aguilera, my guess is that if you buy where you want to live, it'll hold its value at least as well as your current home, and your vacation rental (providing that you buy a project/discounted home that has all the potential that you need).

The main problem in Pittsburgh is that we have very few 1 level houses without 15+ steps up a hill that would actually be suited for the projects, mostly because the properties that would be well suited are too expensive to merit the rehab expense (unfortunate that our population is old and our housing isn't suited for them). 

Residential property is more about control due to circumstances, personal preferences, cash flow, equity build up and debt pay down...holding for term and exiting with cash...Why are you investing and what do you hope to accomplish with this project? 

Jack,IRA LLC is not a DIY project, you should use a professional who can set this up correctly.

For example, if the proposed project estimation total is 90K, can a group of investors invest 30K each, each gaining their fixed interest on it based on their contribution?