OP wants a Ferrari when they got Honda Civic money

Same. Taken in RI in 2018.

It's wild. Also there's no telling if you buy adjacent that you won't get rezoned in a few years-- I know people in another state forced to get it nearly 30 years later when the last thing you'd expect is a cost of living hike at that age.

Flood insurance is not something you want to deal with. Also, is this a long term move? All the more reason to anticipate long term costs of insurance and stress. Shorter term you're going to have a better idea of how bad your insurance rates and flood/hurricane risk will be.

What's this? Logical reasoning? On Reddit? In this subreddit? Impossible...

I’m a fan of European planning myself, but we have historically had more space, had fewer feudal land owners, had more powerful local governments, had a stronger emphasis on property rights, had multiple (sometimes antagonistic) cultures, and we became wealthy just as the automobile was in ascension.

Not surprisingly, like every other civilization since the beginning of time, our circumstances determined how we built.

It isn’t because we’re idiots.

Not downloading the app. Someone be a hero

I think some of the other important driving skills have been removed with the COVID restrictions. The DMV tester couldn't be in the car, so everything had to be done in a parking lot. That removes things like taking a left turn in traffic, and turns it into a skills show. I don't know if they've removed the part about the tester being in the car yet, but that was my understanding.

If OP doesn't have the cash flow for a SFH, then they're unlikely to be able to afford the going rate for a multi-family. Rental income will only help with cash flow later on after initial investment/income assessment.

It’s everywhere! Delusional people SMH

Good shape being the key. Don’t buy a money pit. But a solid house with rental income is a winner to get started for sure.

You could always not give tenants access to the yard and get that scenario for yourself. House prices (and lack of supply) are all over the place not just RI.

You would be surprised

I literally parallel park 2-5 times a day every day..lol

What are you talking about? I parallel park in downtown every day.

In New York City, maybe. I find it hard to believe that's a big poblem in Providence or Cranston.

When was the last time you parallel parked? I go into Providence fairly regularly and I don't think I have ever had to parallel park. Maybe on the East Sid on rare occasions, but not frequently.

At any rate, I'm not anti parallel parking, I just think it plays an outside role in getting your license when there are far more important skills.

Foreign investors and locals do that all the time buy houses and have them sit empty. Price appreciates and they sell in a year or 3

I've heard that argument, although I haven't seen any empirical evidence. And that could cause distortions in the rental market if they control enough supply to distort pricing, but it doesn't explain housing. A corporation isn't going to buy a house and then let it sit for a few years in the hopes it appreciates, the carrying costs are too high. At most they might make some quick improvements and try to flip, but that's still dependent upon demand.

How did you get your license?

Because most people don't live on a farm in the middle of nowhere their entire life and at some point drive into a city where they will have to parallel park.

Corporations buying up Real estate

Ok boomer

That's how free markets/capitalism works

You can't always have what you want. It's about what is possible given your financial circumstances and what makes feasible financial sense. Your mom is right, buying a 3 family home and renting out two floors would result in you living essentially mortgage free or close to it