Here's one from Bigger Pockets publishing https://www.amazon.com/Real-Estate-Note-Investing-Passively/...

I've crunched the numbers and if I could purchase three four-plexes in the next ten years, that would give me the financial independence I'm looking for."2.

They are generous on the values so sometime my actual cash out of pocket is less than 15%, for example, I pay 102K for a house that appraises for 108K, the extra 6K they count towards my down payment so I get a mortgage for 91,800 because that's 85% of 108K and I write a check for about 10K.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

So that $100k+ ED is coming from your pocket, before it can be reimbursed by investors.Legal Fees: you can't raise money without legal contracts setup.  

Is Bigger Pockets no longer offering AIRDNA under tools as part of the pro membership?

I'm 25k out of pocket for permits and clearing.I bet the pre-permitted 10 contiguous lots on the river would appraise for at least 150k.Am i being overly optimistic?

I will split a giant master room into two smaller rooms and will convert the living room to get the additional three rooms.

The excitement then went through the roof and the owner wanted to do three or four at the same time and the next thing you know the whole ship went down in bankrupt.Just something to think about. 

@Richard FerraroNo need to pay buyers broker in CA, AB2992 allows the buyer to walk away from the buyer-broker agreement "if the out-of-pocket costs to pay their agent remain to great ..."