Freedom Mentor Phil P. philosophy on quantity of rentals?

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Watching a video of Phil P. of, I was surprised to hear him say that he too used to think it was better to have 24 properties all highly leveraged instead of one or two paid off properties that cash flowed well, and that he knows better now.

The only thing that immediately comes to mind as a good point about this is that the more properties you have, the more expenses you also have when it comes time to renovate, and if your goal is just FI, you can get that typically with one or two paid off rental homes and call it good, while living a simple existence with little hassle.

But maybe there are other reasons for this, or is he wrong?