@Henry Hsieh not sure what you're referencing with your numbers, but we agree that newer investors should DIY manage their first 1-2 properties to understand the management process.After that, their time is better spent on other aspects of investing, so they should hire a PMC.Don't fall for online reviews! 

Yea cash flow is obviously the most desirable outcome, but I just felt like the loan pay down aspect of it seems to always be dismissed as if it doesn’t exist.

I guess an important aspect to this is that I live about 4.5 hours from my vacation rentals (I live in NYC). 

I approach it scientifically, like running a business, vs operating from feelings.

I've delved into approximately 10 books covering multifamily investments, syndication structures and operations, capital raising, underwriting, real estate market dynamics, legal aspects, broker relationships, deal sourcing, taxation, property management, sales techniques, lending practices, and construction processes.

My post did only address one aspect of real estate though.

I wonder what happens when your customers realize that they can get together and file a class-action lawsuit against your organization for an insignificant sum of money.Thank you for your response and for highlighting an important aspect of your comment...

It is different for me as I do enjoy REI and a lot of aspects of it, along with having the security of a W2 and a healthy pension after.

He also likes to tell me how much I should offer on the property and the final amount it is worth but I have learned that I know more about this aspect than he does.

The main hurdle that many of our borrowers face are the income aspect of it, especially expensive markets like the West coast.