You could gain some significant experience by  picking up a mentor/partner.

I have one cash flow property and my goal is to buy several more as I gain knowledge and the financial ability.

I am putting in an offer on a 5 bedroom mansion-style house and was thinking to finish the basement and add in a weight room.  

From there, I am not 100% clear as to the next step to take in this journey however, while figuring that out, I am reading books and blog after blog written by successful investors to gain as much knowledge as I can.At the advice of Gary Keller's "The Millionaire Real Estate Investor" and numerous other real estate blogs, I know I will eventually just have cast my fears aside and take the dive and close my first deal but, as a new member on BiggerPockets, I am here to learn as much as I can about investing and about my market along the way.I look forward to engaging with and learning from the community here and developing my professional network along my journey into real estate investing.

My goal of joining BP is to gain a better understanding of the many aspects of real estate.

If so, then school district is a big concern and you may opt for the higher priced option.If you're a single person, or young couple, are you just being an area snob who is not willing to make short term sacrifices for long term gains?

Good luck finding your rental properties and gaining your financial freedom!

Then we purchased our first rental in the Austin area and it is cash flow positive and gained equity in it fairly quickly.

When I sell, 50% of the money goes back into the sdira and (because it is a Roth) that "gain" isn't taxable EVER! 

That's my current plan, I'm actively looking for distressed properties I can apply for, so I also gain some experience rehabbing homes.