Good plan IMO except for a few things ... 1)Don't buy turnkey ... buy something where you can put in some sweat equity and force some appreciation; this will give you extra experience and also enhance your returns to scale faster/easier. 2)Do not ignore appreciation rates; cash flow day one is great, but you want to make sure you buy in a neighborhood that will hold its value and has steady, reliable rents after inflation at the least and at best increases in value; if not, then your cash flow could just be your initial investment getting trickled back to you in monthly installments while you are losing purchasing power on the property. 3)Keep your possessions down to a minimum in a smaller space; this is good financial advice anyway but doubly important if you will be moving every few years.

You should hire your own pool service so you don't have to pay the inflated cost with the PM nor trust the tenant with pool care.

With such low unemployment and hot RE market, the prices are high (in my mind), and rising.

Even as demand for rentals rises amid a falling home ownership rate, yields are declining and companies formed to buy the homes that have gone public haven’t yet been profitable.Funds are buying property now, including homes sold by Carrington, for rents that yield 6 percent to 8 percent a year, before costs such as insurance, taxes and vacancies, according to Rose.

He said "I'll get a nice rental home, my credit will recover in 5 years, the market will rise, and i'll just get another house."

Tack on inflated taxes and insurance and its a long shot.

Although if you work for a commercial brokerage it is harder to build a book of business, agents are sharper and more aggressive, and it can become pretty hairy if something out of your control delays a contract or something of that nature, and on top of that you probably wouldn't be able to take advantage of the rise of the housing market [Lots of $$$$$$$$].

He offers excellent insight into the economy, government manipulation of currencies, and how to counteract inflation including using real estate as one vehicle.

If you are mostly invested in the capital markets, real estate is a great inflation hedge.

for 15k a door. .he was giddy of what a great deal he got... spent about 10k a door getting the units back to rent able condition putting in a new hoop and BBQ area.. well within first 30 days hoop is destroyed BBQ are stolen he had one murder and a bunch of other violent crime he thought we would sell at a 15 cap and make about 500k on the deal.. he ended up selling and losing 400k... all in 18 months place ended up boarded again.. these areas are only appropriate for those that FUlly understand the market the tenant and how to run these areas.. an investor buying a SFR if its in the wrong area will just throw their money away.. you need to buy quality.. if you do you can a good day.. although be aware values do not rise there.