Depending on your market you may need to buy in our out of your state to hit your goals.If you plan on getting financing you need to understand what programs offer the best options for you and your current employment or income position. 

2) You have one rental now, what's your goal of buying more?

Most are selling hype to get you to buy their programs by deliberately make it sound easy.Your profile here on BP is blank, so guessing you are a "newbie"?

Quote from @Praveen Kumar: Hi everyone,Me and my wife very new to real estate investment and yet to buy a property.

Do you ever see signage near the road that says "we buy houses" call that number and have a conversation!

Not following this - what does your buddies property have anything to do with a property you are buying?  

With pulling out your equity (or selling), you can diversify and buy more.I did sell one of my places and used that money to buy two others. 

Buy and Hold investing is a great avenue to begin with as most people live their lives off of residual income. 

Quote from @Atif Khan: Hi, new here. i just finished building my first spec homes out in granbury tx and was looking to buy a few more lots around dfw metroplex.

Investment Info:Townhouse buy & hold investment.