I know nothing - investing in rentals with cash?

[Michael Cheng]

Hi!

I literally stumbled upon the BiggerPockets YouTube channel today and am interested in learning more. Currently pretty much all my money is invested in the stock market.

1. If I'm able to buy a home to rent out with cash, how important is it to find a great deal? If I just bought a home that's reasonably priced, maybe with something like "needs TLC" in the description, could that be profitable as a rental home, with the idea that homes typically appreciate, and I wouldn't have a mortgage? I don't know how to find great deals, and I have a full time job and family that limits the amount of time I have to do rehab.

2. If #1 is a possible thing to try, any suggestions on how a strategy like this would be scalable? I heard something about taking out a loan against the value of a home appraisal and using that to purchase more properties?

Again, COMPLETE newbie here. This is literally day #1 of me even learning about anything related to real estate investing.

Thanks :).