We are both real estate rookies, aiming to expand our long-term rental portfolio.We currently own a duplex in the same beach town, Cayucos, in which we live in one unit and rent out the other.

I just thought it might be a good way to supplement income from my 9-5, save more of a down payment.... without all the added pressures of fixing properties, being a landlord etc. 

If possible, you should aim to buy your first rental property before you leave the military since I think it's going to be harder for you to finance your first property without a stable W2 job.

@Bradley ScruggsI was thinking the same thing and aiming for at least $100/month in cash flow.

I would suggest looking at ways to supplement income of your current W2 as a starting base so that this isn't as much of a "leap of faith" as your put it.

That's good.Throwing an ambitious, people pleasing 18 year old to the wolves of college administrators and recruiters, having the government supplement an endless supply of guaranteed loans, which keeps inflating the price of college for everyone else, etc. 

Due, it's an excellent companion to have, especially for setting corporate structures for maximum tax benefits and minimum liability 🔥 @Forrest Williams Appreciate the tip on what ARV to expect / aim for.

This works better for buildings aimed at a younger tenant base. 

It’s a great market for both LTR & STR I’ve found, although I don’t do the STR for income, just supplements my COL.

I have always aimed on buy and holds for about 1.25% or better myself but on occasion get a 2%er but that is because of the market I am in here in Indiana.