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I've inherited 330,000 dollars and I want to buy (mostly) set it and forget it real estate. What state should I buy in? What city?

My father has gifted me his fathers inheritance, he wants me to have the money for my own benefit, but also so that if his wife divorces him she wont try to go after the money.

the only condition is that I use the money to buy property. No stocks.

I want to use the profit to help support me through grad school while I am not working. (Right now my income is 65k a year, but I may quit soon, so I need the property to pay for itself and its repairs at the very least)

Hopefully in 5-10 years whenever my dad retires, I can sell and buy a nice condo in SoCal (where I live) for my dad to live out his old days in.

For the property purchase, I was considering Vegas, since its close to los angeles, but I know that its a market that can fluctuate pretty wildly and drop heavily during crashes.

I'm also considering colorado since its also landlord friedly and has low property taxes. I also have friends out in denver.

I could do somewhere cheaper in california like bakersfield, but I'm a little heistant because of landlord unfriendly laws and high property tax.

Any other ideas or general advice?

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submitted by /u/runescapeisporn
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source https://www.reddit.com/r/RealEstate/comments/1bpput5/ive_inherited_330000_dollars_and_i_want_to_buy/
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