Let's start with setting market rent: If you are a tenant, how do you determine what a property is worth to you?

No assignments of contract, no resale or mtg for 90 days after your closing for more than 120% of your purchase price, plus other typical REO language.

@Jermaine Williams It depends on the neighborhood...we don't look at anything under $75k...just not worth it.

No bank is going to lend to you unless you put up collateral worth 150% of the construction loan (and the land ain't it).

I guess my question is, do you think the lack of versatility is worth the knowledge and connections I would make when you consider my big picture goals? 

I looked into this, if you’re buying residential leveraged real estate is not worth It.Not tax advice

Is it worth making the investment?

I currently owe 88k on my duplex and its worth about 130k .

Let's say you overpay for a house  (somewhere in the midwest) by $10,000 but make it all back and break even within a year or two with the rent cashflow then it would still be worth it compared to buying a $1.5mil house here in CA to get the same return.

To pay that amount in that town means the taxes triple, and makes the return on investment, not really worth it.