No doubt a good deal and house hacking a duplex is powerful for building your wealth. I

Tonight I am meeting w a wealthy family member who has already expressed interest in lending money to me for my first deal.

Culture?

2) Is this guy a wealthy and experienced slumlord or just an ordinary slumlord?

TRUTH ABOUT CAP RATES - adding value in this low cap rate market can make us wealthy!

No brainerThis is how you become wealthy!                                                                      

And after we sold, it's still climbing.its a testament that those who dont believe in appreciation or think its gambling are missing the boat.. great wealth is generated through appreciation  

Only if I was young again, I could imagine house hacking and rent short-term to some exciting foreign guests, so much to learn from different cultures, or renting a room to a doctor or lawyer while they look for the primary home, what great connections you can make.

For a lot of places in CA the wealthy will pay a premium for a nice big house and do not want to be near lower income people who are more likely to rent a duplex type house. 

It's unfortunate that the hardest part of building wealth is at the beginning when you're trying to get the ball rolling and have the least experience.