It's a great technique, just be sur eyou are taught how to handle all aspects of it.

I am also a fan of the strategy of taking the equity out of a deal, of course, this is the only way to achieve a quick growth of the portfolio.Also, don't minimize the fiscal aspect of the point: cashing out the equity from a deal means not only you have the money back and cash flows with infinite percentage return, but also that the money you have got is tax free.

I have done things with attorneys, CPAs, stock brokers, insurance brokers and others successful in business.General business knowledge, understanding of financing requirements, knowing property valuations, maturity in personal financial matters to give general advice, understanding of the foreclosure process, legal aspects as to liability in leading someone into financial matters, fully understanding fraud issues and the differences in a general matter where fraud might be applied as generally thought of and what may constitute bank fraud causing or even attempting to cause a loss to an insured bank having different standards.

yes, this product is good if there're two aspect on top of it :1. asset is appreciating faster than mortgage rate , and second2. you plan to sell the asset quickly , like in year 2 or 3.

I believe, aside from house hacking, a LTR as your first investment is a great option since it will teach you many different aspects but not deal with the headaches of a STR. 

If they are insuring the property in its current state, it's likely that a new buyer will also be able to obtain insurance without trouble.As for the mortgage aspect, the key factor will be ensuring that the house, including the patio "room" and its roof, meets all local building codes and standards.

If you have questions about the civil engineering aspect, feel free to reach out or post specific questions and I'd be happy to offer my thoughts. 

You can raise rents whatever you want thanks to the Costa Hawkins Act (at least for now) but all of the other rights for tenants are in play.It depends on how you define cash flow, but with $500K down you may have cash flowing properties because you will have a low LTV.

Seems like the general consensus is the quality of the inputs and the ability to sensitize them is the most important aspect / biggest challenge, so that you understand the potential outcomes.

There are lots of ways to be involved in real estate and it's impossible to know all aspects oneself.