As an example, if you have to replace a fridge, even a more economical one around $600, that would eat up a whole year of maintenance.

Hard money lenders cost for cash will eat up all my profit

I don't include any appreciation in my calculations because I can't eat appreciation.

Of course, if you don't eat or use fuel, inflation is a little lower!

Rehabbing and holding for sale eats away at your profit forcing you to rent it and hold it for future earnings in my opinion.

Most of us could stand to work on our skills in presenting the spoken and written word - here's a great, easy to read book that my favorite real estate mentor suggested in the past - "Eats, Shoots, & Leaves" by Lynn Truss.

Has anyone gone down this track, of suffering the first few years, and then gaining a nice return, and how long do you estimate I'd need to eat ramon noodles for?

If you read elsewhere here (and you should) you'll find the "50% rule" that says expenses (taxes, insurance, utilities, HOA fees, vacancy, advertising, etc.) will eat up 50% of the rent.

You don't want to be "eating" too many two week vacancies.all cash

We eat off of Corelle and buy used cars.I fully expect to have turned over nearly all my wealth to my heirs well before I die.