[TheCoelacanth]

> It’s extremely rare for real estate to decline in value

You and I must have very different ideas of what the word "extremely" means.

> walking away from the property is always an option

That is only true in twelve states. In the other 38, the lender can sue you to recover the difference between the house's value and what you owe even after they foreclose.

[toomuchtodo]

As I mention above, you need to do your due diligence. Investing without knowing the rules is fraught with peril.

I only use non-recourse mortgages when investing in real estate. YMMV.

[TheCoelacanth]

The mere fact that you are looking at real estate as an investment rather than as a place to live indicates that you have far more financial resources than a typical person. For a typical person it is not a realistic option to discard their entire social network and move halfway across the country just to get some more favorable mortgage laws.

[toomuchtodo]

You don't have to live somewhere with non-recourse mortgages. To get started, you only need 3% down, an FHA mortgage, and a 4-plex that cashflows slightly. You then eventually refi that with something more conventional and move on to your next property.

Real estate is only one investment vehicle where you don't need a large amount of capital to realize substantial cash flows. Whenever possible, seek out leverage opportunities.

[TheCoelacanth]

You don't get to choose where you are born or grow up. You are effectively suggesting that people move a thousand miles away from every single person that they know just to get more favorable mortgage laws. That is not doable without starting from a position of privilege.

[JoeAltmaier]

As investment, you don't actually have to live where you are buying. I have a relative 2000 miles away that buys condos in my city as investments. My wife researches them, reports back and they make a buying decision. There's a favorable situation here and they're taking advantage of it. Not by 'privilege'; by smart investing.

[TheCoelacanth]

If you can afford to buy a house that you aren't even living in, you have far more financial resources than the vast majority of people. You seem to be completely deluded about how much a normal person can afford to put into investments.