All listed above does not even include the actual rehab part, which has its own delays.2) Taking on a lot of leverage is risk - No matter if you are going to get a HML or work with a company to get you credit.

This is definitely a cheaper route, but also not the most structured way of learning or building a truly systems dependent business.I also think people often underestimate the risk associated with real estate investing as your mistakes throughout your career can be much more expensive then any investment in your education, systems, and technology.

Figure low 5's to mid 6's for interest rates that are mostly driven by leverage.

Personally, I am all for leverage but also use caution with it, as you don't want to be over leveraged.  

@Skip Reath If you own 11 units in a 35 unit condo you have a lot of leverage even if you aren't on the board.

Leverage the equity you already have so that you can put it to work.

That's $24,000 a year which is enough to pay for another property (using leverage).After the first 4-5 we will be able to grow at a rate of 2 properties a year rather than 1 property every two years.

For many of them it isnt about best return as they purchase all cash as opposed to a leveraged position, and prefer the low risk nature of american real estate.

If I were you I would be looking to use leverage to your advantage and put down as little as possible on your investment purchase.

With low favorable rates/terms, I tend to leverage rather than not.