There not meant to define absolute states of totality. 

Expenses are all defined in your PM agreement.

The key to your success will be how the relationship is defined in the operating agreement for the property.

Actions define character. 

A family friend of theirs told me they probably net $200 Million a year from their parks.This example made me look at what they have done and what aspects can be replicated over and over again where you not only scale but with momentum.

Define, "investor-friendly" agent please.In our experience we've found that +95% of agents only have experience dealing with owner-occupied transactions - which are mostly EMOTIONAL decision based.You can ID these types of agents easily by asking them:1) If they are RE investors themselves.

define reasonably accessible.

Once you get closer to the median house price it's no longer worth the speculation aspect of it, like you mentioned. 

Yes, this is defined by state statue. 

I don’t believe Dave is speaking to property investing when he speaks with folk, rather just advising people not to finance another car/boat/jet ski or what have you.As for financing vs cash purchases, it just depends on your goals, the latter certainly makes it cheaper but the former will allow you to acquire more, define your goals and figure out what you need to do to get there.But Dave is right, you should avoid taking debt unnecessarily and in this Dave’s opinion without goals all debt is unnecessary.