Property management fees eat up money and PM fees will be higher for short term and mid-term rentals than long term rentals. 

I came across this article from Kellogg Insight showing how online sports betting is eating into people’s savings.

The interest you can book and that is 15% based on the investment of paydown which is good, but if you also have vacancy etc and turnover costs, my guess is that would eat into 30%+ of the Principal paydown.

You have to make 'sacrifices', maybe don't buy a $50K vehicle every 4 years, cook at home more often instead of eating out/ordering in, etc. 

Much better to have those tough conversations on the front end rather than when they're 2 months behind and holding costs are eating you alive

First time home buyers are now on average 40 and that does not leave them enough time to upgrade a few times and then pay it off before they retire..In Monopoly bad players still eat.

Turn over costs can easily eat away even half the units annual gross rents in cashflow type area.

Unless the first property has tons of equity you might just be eating equity and cash flow to get another unit and another.

Ironically,  they seem to still fill the lines at Starbucks, pony up for the take-out, they seem ready to eat inflated costs every except in their housing. 

Now keep in mind, these are the guys that have been trained and are not starting up "cold turkey"Have at least 6 months of reserves on hand for eating, bills etc to cover the slow months.Going into winter is not a great time for the market in most places.Wholesaling is one of the highest taxed jobs you can have.Does it work, yes.