The easier/cheaper it is to buy, the higher prices will be.

It would have to be an unusual situation that makes the cheaper method of acquiring the money unfeasible.So for real estate where I am active, I want no less than 14%, and that's ON TOP OF the management fee (10%) that I pay myself. 

-Cheaper to buy outside of major cities or into cheaper markets/states-Build a portfolio of becoming a BIG fish in a smaller pond by investing in smaller markets-Take advantage of the Vacation Rental markets.

Those are just some options of cheaper markets and all have airports to fly into to make an easier commute. 

For example, say I were to pay myself a salary of 15k annually for property management, I could contribute this 15k to a solo 401k and decrease my overall taxable income by 15k?

Problem is they are looking on the cheaper end , less than $ 375,000. 

Cash is cheaper.

The problem is that I'd have to hire a cheaper manager, cheaper maintenance, cut marketing, do less remodeling, etc.

The cost of living on campus isn't getting cheaper.

From the standpoint of building wealth as a younger investor utilizing a taxable account, it seems that investment properties offer better opportunity early on because (i) they can be used for leverage and (ii) depreciation creates tax advantages that go unrealized in a non-taxable account (i.e., a self-directed IRA).