If I was starting from scratch (w/500k...I guess that's a lot of scratch)m here's what I would do:1 - Learn how to analyze Markets to find the Micro Markets within the larger general markets2 - Learn how money works3 - Learn how to develop a plan based on specific financial goals4 - Learn how the first 3 above must work together as one to reach success5 - Apply the above within specific micro markets that whose profiles match the criteria required at the specific timelines within the Plan6 - Develop my Power Team that includes:  Accountant, rehabers, lenders, partners, property managers, and a series of RE Agents (NEVER just one)7 - Now, analyze the individual properties within the Micro Markets found in Step #5, making sure NOT to negotiate against myself6 - Follow the  2 Golden Rules:  Never,EVER, spend your seed money (that 500k). 

@Elvin Green Hmm, it would be pretty difficult to do anything with the "buy and hold" strategy if you have no "seed money". 

I personally have sewn seeds in this market and have been pleased with the results so far.

Is it too late in the season for grass seed to germinate in Jacksonville?

Nobody wants to really build anything and kinda water the seed and watch it bloom into flowers everyone wants the flowers that are already beautifully finished.

I know how to repair, so I dumped all the crap (lemon seeds) from the spray arms and the chamber under the filter screen on the kitchen table for her. 

I think the abundance mindset is really about living intentionally whereas the scarcity mindset comes from deep seeded limiting beliefs.To answer the original question, I absolutely agree that one should live within their means and I absolutely think one should expand those means.

I think you should start learning a ton about the niche you want to get into in Commercial and if its multifamily then start the learning process but allow the equity in SFHs to grow and deploy that as your seed capital to fund your first commercial deal. 

Pay the tax on the seeds and not the crops.

(10)PartnerSell one of the earliest properties, and learn how to "use" your seed money...not spend itLearn how money works (this means learn different strategies of how to use money...not spend it)Start overStop investing due to lack of fundsFind private fundingLearn how to use uncollateralized loans, not spend themBuy using seller financingSandwich Lease Options and Land ContractsExecute cash Partner FlipsDesign a REI Plan, and stick to it, instead of aiming at one property at a time