This strategy requires careful planning, from evaluating potential properties to ensuring that your rehab costs don’t spiral out of control.

I can't help on the mastermind front, but I did grow up in Central IL and can relate to the "something goes wrong with a property, now I'm spiraling, and this was all a terrible idea" feeling.

Conde Nast Traveler recently announced their 'Top 10 Trips everyone in the US should add to their bucket list' and it features some impressive vacation regions and activities:- Hot Air Ballooning, New Mexico- Bluegrass Trail, Virginia- Visiting Point Dume Malibu, California- Horseback Riding, Wyoming- Airboat tour Everglades, Florida- Winter expedition cruise, Alaska- Spiral Jetty, Utah- Camping In Acadia National Park, Maine/Rhode Island/Massachusetts - Trekking the Bayou, Louisiana - Wine country, Willamette Valley & Napa Valley Oregon/California 

At that point certain neighborhoods could enter a death-spiral, because who wants to buy in a depreciating neighborhood?

Once this starts, the affluent will move, leaving less tax money and starting a downward spiral. 

Rehab costs on anything more complicated can spiral out of control fast.

At the same time, housing operators are havingto repair damaged units while insurance costs spiral ever higher.Thebottom line: Revenues are falling while expenses are rising.Thereare no quick remedies.

Then what happens on paper a property looks like a cash flows very well, then when you add in vacancies repairs and life in general, they end up having to start using credit cards to pay for things and get caught into that spiral To answer your original question most real estate investors are not buying a property every year.

I've seen these situations spiral out of control and lead to occupants neglecting/damaging the property, such as making holes in the wall to look for hidden cameras, nailing doors and windows shut, etc.

WARNING: if you do not prepare for this, you can enter a death spiral: deteriorating properties lead to lower rents, worse tenants, more wear and tear, even less cash flow to fund repairs and ultimately erode asset value.I do not mean to rain on your parade, hopefully, this is a helpful long term perspective.