Dave has been doing this for over 50 years.

Typically I see it on anything over 5 acres. 

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

And I used all my rental mailbox money over the last 9 years since I first started investing to buy more and more.

I can only speak to myself personally but I've continued to invest, knowing properties may not cash flow much but I've invested in value-add so focusing on appreciation.

If there is a choice to be made, it comes down to what an investor "likes" or prefers about one over the other? 

Low appreciation may make the RoI from these assets low over long term, though they will cash flow on day 1.

What would you do if you could do it all over again?

.: Quote from @Adrian Clapp: I've invested in 20 syndication deals over the past three years.

What starts out crazy, ends crazier...Got a whole lot of folks (they're not buyers) hovering over your property on a wing and prayer that they don't have to close.