Both asset types can build wealth, but they behave differently, require different levels of operational resilience, and serve different phases of an investor’s long-term strategy.Understanding how they differ is essential for building a portfolio that supports your risk tolerance, your desired level of involvement, and the cash flow you expect.

I was an REI before I started it, and immediately noticed most REIs didn't have a great hold on their numbers and/or managing their cash flow.It all starts with having proper bookkeeping in place at the entity-level, property-level, and sometimes the door-level.

Out with the bathroom/tub and in with a walk-in shower, new tile and vanity, rebuild the deck completely with trex deck and railing and raise it all to one level (about 1,200 sq ft of deck on an 800 sq ft cabin).

In most cases, the property manager ends up being the one truly running day-to-day operations, which makes it hard for the IRS to see you as “materially participating.”To meet REP requirements, two things have to happen:-You (or your wife) need to spend more than 750 hours a year on real estate activities, and-Those hours have to make up more than half of total working time for the year.The challenge is proving that level of involvement when a property manager is already handling leasing, maintenance, and tenant issues.

I have a question about the tenant review part you mentioned.Is it actually possible to find out things like a tenant’s age, income level, or DHCR registration history before making an offer?

That's not even getting into the used car salesman level lies they tell their customers to push them to a deal. 

Expand into development, multiple markets, and leadership-level hiring.

Most of our deals come from our in-house marketing efforts.Lately, I’ve been thinking about how valuable it would be to connect with a small group of fellow full-time investors who are operating at a similar level — people who want to openly discuss strategy, systems, and what’s working in their markets.

When I was in my 20s, I bought a bunch of rental properties without getting a mentor or coach, and I lost my shirt.

This type of prompt takes you from a level one AI user, someone that uses it like an advanced google search, into a level 2 AI user that uses it to make their own prompts better.