Although not required, spending a few hundred dollars can help you discover hidden repair issues.Contingency fundA mortgage lender typically requires you to have significant cash reserves before buying a residential rental property.

There's no way you are going to spend decades becoming an expert in your field and then spend countless hours sharing that information with a complete stranger.

Nurture your current relationships, spend time on creating new ones (aka generate leads), and think long-term.

Building more roads for hour commutes is not how people want to spend their time.

The money is not yours to spend until it is applied to a monthly rent charge.

@Stuart UdisYou forgot to have the Wyoming LLC owned by a Delaware holding company that has the asset then put into a land trust.Then seek 100% financing because you are broke from spending $10,000 setting up this corporate structure to protect the zero assets you have.

RARELY.Fact 2:If you need to send 3000+ mailers to people on this lists to get one deal, it means 2999 people of the 3000 you spend money on to chase, are not interested, not motivated, and thus the wrong audience.That is a 99.97% failure rate. 

When done right, Facebook can go neck and neck with any other lead-gen method out there.If you have the ability or the budget, building out a proper SEO strategy should be a top priority.Google PPC is highly effective but the truth is most investors without a hefty advertising budget can’t or shouldn’t spend their dollars there.What are you doing right now to generate leads?  

There might be some things worth fixing but I certainly wouldn't spend thousands to do it.

Traveling professors and medical professionals would probably be my target avatars.I am biased though toward MTR as a strategy, and it's not without risk to spend a couple grand converting an empty LTR into an MTR, so consider all of your options carefully.