We recently did a BRRRR and got our HELOC out of the refi, but it was a lot of work and we are looking for a simpler investment.

Any tips, warnings, or real-life lessons are welcome! 

Literally the same thing everyone has said to me my entire life about why you shouldn't buy real estate now.    

Build a solid foundation before taking a step up - each and every step of the way.There’s a way to scale recklessly and there is a way to scale safely.When OPM is involved safe is way better than reckless.Despite a life long career in RE, I scaled as followsBought a few duplexes for my own accountBought a fourplex for my own accountBought 12 units as a JV with some friendsSyndicated 43 unitsSyndicated 30 unitsBought another 12 units as a JVSyndicated 281 unitsThis was over a 3 or 4 year period.and so forth - now I am GP in close to 1000 units with $125M AUM.Even with all that, my sweet spot is 30 to 50 unit properties - they work best for my partners and I and more importantly our investors. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

This place has changed my life and I couldn't be happier.

This may come into play as you near the end of life and need to think about estate planning.4. 

You start by mentioning your age... you'd need everything to go just right for the rest of your life to make, best case, $400 or less additional each month net cash flow. 

I am a little late to the game and have been told several times throughout my adult life to invest in real estate, but I ignored the advice.

Non-tangible property includes buildings, land or other inherently permanent structures.I get a lot of questions on which group specific assets belong in, so I put together a list to help.Non-Tangible PropertyBuilding (27.5 or 39 Year Useful Life)Land (Non-Depreciable)Paved Parking Areas (15 Year useful life)Swimming Pools (15 Year useful life)Fences (15 year useful life)Bridges (15 year useful life)Exterior Landscaping (15 year useful life)Docks (15 year useful life)Sidewalks (15 year useful life)Tangible Personal PropertyMillwork or decorative trimCarpetAir Conditioning equipmentShelving, cabinets and display racksAccordion doors and partitionsWall coveringsInterior landscapingNeon or other signsDecorative and business specific activity light fixturesGenerators, machinery and kitchen equipmentWindow treatmentsWhat other questions do you have regarding cost segregation?