If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

These days I can't buy a lot for $40-50k.

When I first got started I didn't officially join any coaching programs, but I did buy the materials at mobile home university.

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?

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

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!

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.