If you're looking for short-term flips, then the market may reward you in places with lower cost of living but are showing expansion that could accommodate the ARV.However, if you're going long-term, you can look at COL and general RE appreciation rates in different cities to determine what your long term return could look like.Happy to move to DM if you're interested in getting involved in the ATL area.

It rewards poor behavior by tenants.  

You can include rent + appreciation, but it's probably relatively low.What you propose is a riskier strategy, but along with that higher risk comes higher potential rewards.

Great lessons about not letting oneself be distracted by background noise and keeping one’s eyes on the prize.

The more productive exercise is to compare a leveraged syndication in an IRA to some other investment the IRA may make, and determine which will produce the best balance of risk and reward appropriate to your savings goals.An IRA is not subject to the extra tax associated with the Affordable Care Act.If your CPA is not familiar with this territory, seek out a professional who works with non-profit and tax-exempt entities. 

But it is an inevitable consequence of a system that rewards certain behaviors and punishes the poor. 

I have found it to be VERY rewarding and educational.

The decision to explore this field can be both rewarding and challenging, but it's a great step towards financial growth and independence.Regarding your anecdote and question about learning a skill, it's a wonderful perspective.

Debt adds risk and reward. 

@Jose Nunez it's a high risk high reward play.