Stream heat is the worst.

Yes, you can spend money on extensive renovations if you don't want to realize that income, or some version of that, and it may be advantageous to some very wealthy people with multiple healthy income streams and properties, but you should be extremely suspicious of that.

That is great to hear that you are diversifying your income streams.

." - The Richest Man in Babylon by George ClawsonAnother great quote that I like from the making of the animated movie Hoodwinked "When opportunity meets preparation, magic happens.

I like to think on RE as part of a financial strategy - if it becomes weaker, even for a short while, you should have other pillars (= revenues streams) to support you.

^I second everything above but some a few others I would highly recommend:- Buying Real Estate Without Cash or Credit by Peter Conti and David Finkel- The Millionaire Real Estate Agent by Gary Keller- Timing the Real Estate Market by Robert Campbell- Multiple Streams of Income by Robert Allen

You aren't buying a building; you're buying a cash-flow stream.  

Seriously I don't care if its at the grocery store, the movies or your local REIA.

It happens all the time, so there's a steady stream of opportunities independent of general market conditions You can take a very methodical approach to Value Investing, where you regularly invest a particular amount (or just spread a large sum over many months) in a small number of pre-screened stocks, with the goal of holding for 1-2 years and selling at a profit, using the proceeds to repeat the process.

How to create multiple streams of income by Peter Conti and David Finkle goes  into detail but a bit outdated.