A property in this area will probably not fit into the 2% rule (IE it will probably not cashflow) BUT the quality of tenant will probably be good, and if you buy it right you may have a better exit strategy, depreciation, and leverage for other investments. 

I'm a PE coach and fitness business owner from Long Island/NYC.   

There are a million combinations of methods to get from A to B and they can be tailored to fit most anyone.Best of luck!

So will see. but if I got an offer on it once I have owned it a year or two so I could get cap gain or 1031 I would entertain that  other wise just see how it goes.Its in Eugene Oregon so pretty big metro area. with lots of people and this is I am sure the least expensive place in the entire region to live short of moving back in with momy and daddy  I had a park that wasn't individually metered, we made boxes for the meters to fit under the homes so that they wouldn't freeze and made each one seperate, also had to put curb stops outside the skirting so the city could shut off water without my assistance.  

I think Denver stands a better chance than most to weather a FED hike with no ill effects.

The ipod nano is small enough to fit in a tool pocket that can be closed so that it's secure.  

Once I have found that tenant that fits neatly into the characteristic analysis outlined above, then I set the stage for the tenant to know that I am a serious Landlord and that I do not let people off the hook.

Justin - the kind of fund you describe could fit well.

Great Question RobertI would suggest you look at the money you would have to spend and go with the most cost effective plan that makes sense for you.

How higher education fits with rei is discussed some here on BP , but I like how you show they need not be mutually exclusive.