RE is a get rich slow game and there are increasing number of people talking about how difficult it is to retire from your day job even with large numbers of rentals because cash flow is thin.On the one hand there is the Small But Mighty portfolio mentality which I believe is a book in the BP store by Chad Carson.

I quit investing 26 years ago due to some setbacks and it took me another 21 years to get back in the game.

Personally, I'd be nervous to not get some type of deposit from my guest because I like for them to have "skin in the game" 

Real estate is a numbers game, and patience is key.

@Jean G.The reality is: it dependsIt’s a numbers game where you need to first determine: what yield do I want and what are the outcomes/ risks involved that could impact thatBuild yourself a financial calculator to understand this but also understand you need to know every process and how much it costs and how long it takes90% upb on a commercial property in a non judicial state with equity and default interest at 15% is a great deal but take that same asset in another state which also has long eviction laws and it could be awfulLastly bankruptcy could wipe out some of your lien depending on the type and how the loan was written.

For those of you who’ve been in the short-term rental game for a while, what’s one lesson you wish you’d learned sooner?

The other options you are playing with fire as using a HELOC that is paying interest is essentially buying with 100% financing.Having no skin in the game has always been a high risk strategy and people were able to get away with it the past few years due to the money supply and inflation but I would not use that as the measuring stick.

Mentees need to step up their game and make the offer to those who can help them.

Give Memphis a look, tons of opportunity to do it yourself and turnkey providers that have been in the game for a long time.

There are several great ones in Dallas, but I'll bet these days most want you to have some skin in the game, so no 100% financing and also financing of renovation costs.