That's understood.Page 19, Two faces of Debt: Federal Reserve Bank of Chicago - "banks exchange a borrower's "promissory note" or "security" for a check that other banks can deposit" (so the note is funding a check) same page states, "...the borrower can spend the deposit acquired by borrowing"... 

You spend a giant pile of money before you make a dime of revenue.

As I transition the property to a duplex + 2 ADUs, I am considering spending $10K+ to get another master meter put in.

We've been reading everything we can get our hands on, listening to podcasts, and spending time every morning reading and learning from the forums here at BP. 

Usually unless you’re willing to spend a bunch of money on marketing it will take a while to organically grow your network. 2.

If you’re in a market where you have to spend money on roofs, or exterior paint that’s ctainly you can save up for.

.- How much money do you have to spend?

If you want it to run well, you may be spending a lot of time at the property.

Keep spending money on it, and if it is not working.. 

By the time I retire, I want to have enough rental properties to have financial independence to enjoy my hobbies and enjoy spending time with my family and watch my children grow up.