Great post and well-timed for me. I have "backdoored" into REI. I bought my first home in 2005 in Atlanta and held on to it through the downturn. I moved to California and decided to keep it as a rental. It has taken me 3 years to slowly learn about tax-shelters, CAP rates, good tenants, property management companies, and cash flow. I think what's held me back until now was lack of education and letting others make decisions for me. I've grown more confident in my investing mentality and at the same time grown my cash pile. Now it's time to jump in to my second property with a much better understanding of how things work and what exactly I'm looking for. Ultimately, it's been a process of investing in myself and realizing no one is going to take care of me or do it for me.
