I hold no misconceptions about how hard this is - yes, I'm sure there will be many "no's" from potential cash buyers, but it also seems to me that if you do your homework; if you present deals in a way that creates a "win-win" situation for all; and if you are honest in your dealings, success will come.

It's not at all what they were expecting because they kept hearing people like you repeating the same myths and misconceptions. 

It is a great misconception in my opinion that cash flow in CA is horrible, just because it doesn't hit the 2% rule day one ... my cash flow has been phenominal.

There are a lot of misconceptions both about investing in California and investing in the midwest.  

The point of the article was to introduce a thought experiment to help folks who financially suffer under common misconceptions, as millions of aspiring homeowners are romantic about real estate, and spend more than they budgeted for that bigger house or bigger yard, or a chefs stove that is a total and utter SUNK COST, and then justify it by parroting that "Your home is your biggest investment" expression.

Relatives and friends have all kinds of misconceptions when it comes to legal/contract issues.  

biggest misconception in all of BP land and that is owning rentals takes no work.. in A class I get that.. but not B through F and when you get to C D its a full time job if you own any number of them and self manage. which you pretty much need to do  if your going to get anywhere in less than 30 plus years.

@Jake Minyen just want to correct one misconception in your question.

Most places now just give the dates of tenancy and when asked if they'd rent to them again the pat answer is, "If they qualified, then we would rent to them again," which says absolutely nothing.There was a misconception by tenants who were asked to leave because of problems that they would have an eviction on their report. 

There will be spillover into Texas mostly for back office functions (which will eventually move to India sorry) but the whole darn misconception that Texas is going to gobble up all of NYC and SF Bay Areas businesses is nice wild fantasy!