The first time I was laid off it was traumatic because I my industry and the economy were in the toilet but more importantly, I didn't have enough cash flowing RE, second time.... not nearly as bad, and the third time it was my idea and I haven't lost a minute of sleep about my decision. 

I own a portfolio of 35 units worth just under $4 million and I find that the analysis, projections and valuation tools DealCheck provides are sufficient for me to make investment decisions. 

It falls short of the 1% rule which with current rates is not sufficient in most markets to have achieved real cash flow after properly allocating for sustained expenses. 

But when you get those numbers dialed in untill before closing, you sleep a lot better.

Quote from @Jay Hinrichs: Quote from @Don Konipol: Quote from @Jay Hinrichs: Quote from @Don Konipol: I have witnessed many funds that started on sound principles compromise those principles when they couldn’t generate sufficient deal flow to be able to invest the capital that suddenly came into their lap. 

Meaning you cannot just evict a tenant because their lease has expired.You will have to build sufficient evidence admissible in court and to the satisfaction of a judge to prove good cause to get a warrant of eviction.Many housing providers kept high risk tenants on month to month leases so that if the tenant stopped paying rent, you could simply give them a notice to vacate and recover possession of the rental unit that way.The reason for this methodology was because the HSTPA of 2019 passed in NYS made it extremely onerous and costly for housing providers to evict due to non payment.That method under good cause will be eliminated.So you can still keep tenants month to month but you will need to document the lease violation due to nonpayment rigorously.How many times and how late is “good” enough?

FHA has a self-sufficiency rule that makes it difficult unless you put A TON OF MONEY down.

@Salome Ditmars In addition to what has already been shared on this thread, trusting the sponsor will be paramount to you sleeping at night, and I can't stress that enough.

sleep in the basement or on a couch. 

The right idea is going to be the bread and butter.1) Ideal location2) Quality properties over quantity of properties3) 1.25x DSCR4) Intention to hold no less than 8, but ideally 12+ years.5) Sufficient cap reserves6) Mechanisms to enhance cash flow(via alt investing or house strategies).7) Liability protection through no PG loans(if possible), LLC formation, property management and being a diligent landlord.8) Invest deeper, before wider.Now if you're talking where to invest, different information.