Its not all about the cash flow.

When you are just starting out I will suggest it may be all about the cash flow. Especially if you are counting on this money to pay bills and survive. Sometimes the real wealth comes to those who wait and can see the forest through the trees. Dont get me wrong cash flow is important but not always the only thing to consider. A good example three properties that I own.

A duplex I paid 90k for that has cash flowed for me very little  the first 15 years. The loan was held by the owner and I borrowed the 10% I put down.  Essentially I put zero of my own money down. Now it is paid off and worth nearly 200k. I have owned it for 23 years.I wish I had purchased 10 more like it. Its been vacant less than 1% of the time and has been low on repairs. I also added value by building a garage 13 years ago and its been rented out for $150 a month for the entire time. The garage added $15,000 value to the property and cost me only $8,000 to build.

A nine unit property I bought for $250k in 2008 is now worth over $350k. I was able to put down only 15% and the owner held a second mortgage. During my ownership I have actually lost on average $500 a year. Now my balance is under $100k and my net worth for this one building is $250k and climbing. I have my management staff handle most of the issues, repairs and vacancies and I am involved very little. 

The third property was a very good purchase also. I paid $205k in 2008 and it was worth about $240k at the time. I put down 20% and the loan was amortized over 15 years. Its now worth $380k and my balance is around $70k. This property was cash flow neutral since ownership but will be paid off in less than 5 years..

As you can see I bought quality and put down as little as zero money to buy at least one of these properties.and as much as 20% to buy another. In less than 5 years my net worth will most likely be over 1 million dollars and these properties will also cash flow and be free and clear so I can now use that equity and re invest. 

Now duplicate this scenario another 20-30 times and in 20 plus years you are sitting on millions of equity and hundreds of thousands of dollars in rental income. Anyone can do this but this doesnt happen overnight and it takes lots of work with no reward but if you dont mind working and waiting and being smart your reward will come.