Especially in low-interest rate and high appreciation like today, investing at primary first actually easier.If you've been successful in house hacking in CA, OH/AL/WI/TX OOS is piece of cake.

I'm pulling out a healthy chunk of change which I'll be using as down payment on the next property, which I'll be patient in finding a good deal.Icing on the cake is that, since I bought this property during the blip in rates late in 2018 my payment will actually go down despite pulling the majority of the money I have in the deal out.

So you would not use rental imcomen to qualify for a second home.Can't have your cake and eat it too.

The people listening to the podcasts/reading the books are aspirational and want to figure out how to get in and as you point out, it's not a cake walk.   

@Tesho Akindele I consider appreciation icing on the cake, however, Kansas City has been seeing significant appreciation. 

Most books also discuss appreciation as the "Icing on the cake". 

I would work the numbers where 30% annual occupancy is my full operational numbers and anything more is just icing on the cake as it were. 

I looked into development a few years ago and what I wanted to build was 1,500sf ranch homes on small lots with city water to retail at $350,000, because I knew I could sell those like hot cakes in Milwaukee.

If you have capital as well, that is really icing on the cake. 

I invest for cash flow and see appreciation as icing on the cake, but that is me at this time in my life.