[quote=spdrun]Why not buy a foreclosure (maybe outside of CA) with the money, rent it out for 8% on the dollar and take some nice tax deductions as well?[/quote]

Lol.. easier said than done for a lot of people.

And besides….

The OP I believe still rents. I think he would be better served buying his own home and living in it and building equity before tackling the problem of being a landlord.

(assuming he is living/working where he would settle down).

Just curious, besides the condo you picked up here in SD, did you pick up anything else recently?