A simplified example with easy numbers: You borrow $90k in private money to buy a $100k house and spend $30k in renovations.

A lender might make $100 on a $30000 loan and needs to spend 100 hours of time.

Spend $300K to add an ADU to our current home on five acres in a vacation destination that could generate a similar ROI as an STR. 

Also very good at tax strategy. not cheap though. of course, this is client by client, but the person I know who uses them spends around $7,000 a year on them.Bob Coleman out of OP has a great reputation.

Yes if you build the systems and relationships to do it, which means spending some time on the ground in that location to do it.Now that I have that off my chest- Where- Start with major cities in your surrounding states first then expand out- Milwaukee, St.

That represents an increase of 10.3 percent;-Total dollar volume for full-year 2021 rose 28.2 percent to a record-setting $40 billion;-December single-family home sales declined 4.5 percent year-over-year with 9,272 units sold;-Total December property sales fell 1.9 percent to 11,432 units;-Total dollar volume for December rose 12.4 percent to $4.3 billion;-At $319,000, the single-family home median price rose 17.2 percent to an all-time high;-The single-family home average price climbed 13.5 percent to the second highest in history, $392,449;-Single-family homes months of inventory narrowed to a 1.4-months supply;-Townhome/condominium sales ended a strong year with a 21.5 percent year-over-year jump in volume, the average price up 13.8 percent to $258,139 and the median price up 20.9 percent to $220,000;-Leases of single-family homes rose 5.9 percent with average rent up 7.5 percent to $2,042;-Leases of townhomes/condominiums fell 23.0 percent with average rent up 5.5 percent to $1,731.

Networking, like in most things, is key and every area can differ in where the investors spend their time. 

No reason to spend the money on that.

What you want to do then is analyze how many cash flowing properties you need to own to make up that income from the second job or how much profit you would need from a flip.While you are figuring that out spend as much time as you can listening to podcasts, reading books and going to meetups to absorb as much practical knowledge as you can.

Ask yourself how spending an extra $45k (on anything for REI) does that and you will have your answer. ;)That $45,000 cash out of pocket is an entire down payment on another house.