a RE portfolio refinanced as many did at 80% or bought with only 20% down.. clearly does not establish a net worth of the entire 20% of equity I will submit that those that use max leverage while they have equity on paper in reality if they were to need to cash out for any reason that net worth is probably half and if then when hit with recapture they have zero cash net worth from those assets.  ?? 

That return might be half a percent in bad times or 20 in good times but there's always something there.

Qualification Tests Overview:50% Test: Real estate professionals must dedicate over half of their annual working time to a "real property trade or business."

Sometimes its half the cost.

This is the single easiest way to find a mentor in your market.

We've found the traditional "live in one half and rent out the other" is a little bit more difficult to accomplish these days but we've had luck pivoting to buying a single family home with an in law suite with separate access.

Then, once you close on the property, the bank pays the contractor half up front and then the other half once the work is done and inspected.

I just had half month's rent as security. 

You’re probably better off buying it as a primary and living in half. 

it can work, but is it the easiest path?