Requesting Investment Strategy Advice for a Real Estate Newbie

[Conrado Balicusto]

I come from the Financial Independence Retire Early (FIRE) community and have already reached my financial goals. While I continue to work because I love what I do, I plan to stay in the workforce for the next 10 years. Now, I'm looking to venture into real estate investment for several reasons:

1. Diversify my investment portfolio
2. Build generational wealth
3. Lower my taxable income

My Investment Criteria:

1. Buy and Hold Strategy: I'm focused on long-term investments.
2. Cash Flow: Not a priority for me; I don’t need the income from these properties, even in retirement.
3. Acquisition Pace: I plan to acquire one or two properties per year. I will be injecting new funds every year.
4. Full Control: I enjoy analyzing deals and prefer to have full control over my investments, so syndication is not an option.

Given that I'm a complete newbie in real estate, I would greatly appreciate your advice on the following:

1. Selection Criteria: What factors should I prioritize when choosing properties?
2. Strategy Recommendations: What additional strategies should I consider to maximize long-term returns and tax benefits?
3. Pitfalls to Avoid: What are the common mistakes new investors make that I should be aware of?

Thank you in advance for your insights!