He did an excellent job on explaining and goes even further. 

While I think RE offers excellent diversification I wouldn’t say it is the most reliable path to long term wealth especially for physicians because of the time required.

Enrique, this is an excellent breakdown — vacancy is easily overlooked as a cost, but it’s huge when it happens.A couple thoughts from my experience:Marketing + automation: Using professional photography, 3D tours, and multi-platform posting really does cut days on market.

Zack brings up an excellent point.

But, excel is totally fine in the beginning (in addition to your PM software to capture transactions outside of the properties).Our bookkeeping firm uses QuickBooks Online exclusively for all of our REI Clients.

Your goal should be that the studio rent covers at least 50% of your total PITI (principal, interest, taxes, insurance) payment, otherwise you're not really house hacking effectively, you're just buying an expensive house with a small side income.Bottom line: This can be an excellent first investment if you verify permits, get a thorough inspection, confirm legal rental status, and ensure the numbers work with realistic Florida costs.

Many investors use Excel or Google Sheets to track their time, but you can also use the app REPS Time, created by a BP user

@Ben Trageser Stessa is an excellent platform for tracking investors' income and expenses; it is user-friendly.

Rich Dad, Poor Dad also helps shift your mindset.Podcasts: BiggerPockets Podcast and Real Estate Rookie are excellent for learning from investors at different stages.Local networking: REI meetups or BiggerPockets meetups are gold for real-world insights and connections.Hands-on learning: Even analyzing deals daily (using calculators here on BP) builds the muscle memory to spot opportunities.I’m a real estate agent in Memphis, TN, and I help a lot of out-of-state investors grow their rental portfolios here.

@Stephen Fisher makes excellent points about expectations.