Other people’s money and leverage are the keys. 

@Edwin Jaquezwelcome to the site.Best advice I can give to get started in rentals is make sure you keep a high credit score and good w2 income.You can leverage your capital to build a substantial portfolio for yourself.Good luck.

For a 1031 exchange all proceeds from the sale and toward the replacement must go through a QI including the downpayment if it is a leveraged purchase.  

I think you should leverage to help build credit and spread the risk.

I can imagine after paying property taxes for 5 years there must be some kind of leverage with a traditional lender in obtaining a refinanced loan? 

Cash flow is most important to me at least, the beauty of real estate is the use of leverage to increase returns, take advantage, but don't go over your head and get 50 rentals with huge loans on them.

The problem with high leverage is that it can't turn an OK deal into a good one, but it can definitely ruin an average deal.

I think the main people who are replacing their current job or income with cash flow from rental properties are buying cheap houses with leverage. 

As a wholesale deal for us, is it possible to do a double close with the end buyer having leverage instead of being a cash buyer?  

God bless technology :-).