Play it safe for the first one and be ultra careful.

one thing to keep in mind ultra high end in the mid west is some of the softest real estate in the market today.. there is only so many  Blake Sheldons in the world that want to live in some of these areas..

If you're paying more in fees than the points are worth, then you're not really accomplishing anything... so it's ultra-important to know what each point is worth to you.For example, my chase ultimate rewards points are nominally valued at about 1.5 cents each.

As you know, this market is ultra competitive, so finding properties isn't easy.

We started in real estate a couple of years ago and due to our inexperience we decided on an ultra conservative strategy in the form of all cash purchases.

My deal only cash flowed 14%, but there's some guy in another post that's boasting about his 64% cash on cash return.  

Boasts in total 4 bedrooms, 3 baths, chef’s kitchen, wood burning fireplace, lounging areas & decks, custom 14ft x 7ft hot tub, in-ground swimming pool with cabana, outdoor 42" propane fire pit, 65 year old cactus garden, boulders galore, & incredible desert views What made you interested in investing in this type of deal?

Pay to send them and the kids to a movie during your house showing.If carrots don't work, try the sticks:  6' stockade fence, purchase and blast the critter-be-gone ultra high frequency sonic generator aimed at their property 24/7 (quiets dogs and sometimes kids). 

As a novice investor you need to understand that being debt free is a ultra conservative way to invest.

My clients are ultra wealthy and they do not want to be bothered with anything.