He has repeated the process in which you mentioned with success.

Many people don't realize that you gain as much or more net worth through debt pay-down, and while it's less liquid than cash flow, over a 5-10 yr hold period it's considerable if you buy in the right areas with the right asset class.

This doesn't come cheap--these folks were making high six to seven figures depending on volume.We focused on lending to professional real estate investors--so our customers were frequent repeat borrowers. 

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

This is real.The two comments above can’t be repeated enough.

.) • BBD - Bulk everything together into one large investment, cash-out refinance, rinse/repeat (seems like ongoing work like we have today.)• NNN - purchase triple net lease opportunity (1031 everything into it, managed under trust, tenant takes care of everything) • Sell each off the normal way (even spreading out one a year, heavy tax implications and truly diminishes decades of work.) • Give/donate each away-----I expect many here have already been through similar dilemmas and interested in experiences, lessons learned.

Not one lawsuit, the guests are respectful of the place and it's easy to repeat the formula in multiple real estate markets across the country.

A lot of maintenance issues are repeated again and again on all the properties a PMC manages.So, a PMC has pretty good idea of what many issues cost.

Quote from @Stepan Hedz: Selling fees (estimate), $30,000, and holding costs?

There's actually some deeper nuance here than just the holding period.