Question about startup strategy

[Chris Gylseth]

I have learned that buying properties that already have tenants renting is a good way to invest. I've looked at possible expenses related to this, but wonder if there is a 'simple formula' to quickly vet the potential of a property?

Secondly, would it be smarter to start with one property and expand from there, or could I do for example three properties at first? Would there be any advantages or disadvantages to either option? Note: All properties would be located in the same city. They could potentially be paid in full with cash. Is there any reason not to?

Lastly, I've also heard it being stated that if you're going to do it at all - go big - meaning you might as well invest in larger multi-unit properties from the start (100+ units).

I would appreciate the forum's take on this.