After two years of negative cash flow (mostly due to an expensive turnover), I decided to sell it.Guess what I did next?

Are there less expensive ways to get access that are still effective? 

Construction can have unforseen costs, construction loans for rounds of funding can be more expensive over time, rent markets can drop, vacancies in market can increase.Typically entitlement phase of land most risk, followed by development, followed by vacant building turn around, followed by half vacant building, followed by mainly full building with value add component, followed by brand new building with market or below in place rents and everything new with good location.Along that spectrum of course you go from heavy equity upside potential to mainly just the cash flow return and hopefully price appreciation over time.Investors have to decide on the spectrum of their risk assessment to capital over what period of time how they will allocate between all one type of investment or multiple and what percentages.

Typically though 28% is around the max DTI for the mortage only and 40-42% for overall expenses 

NJ is notoriously one of the most expensive states to live and invest in.

Negative Cash FlowOne of the most common reasons to sell a rental property is when expenses greatly exceed rental income.

They are also getting a seller's concession which will keep their acquisition costs down.The deal will cashflow from day 1 after debt service and ALL operating expenses. 

Hi Josh, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

@Beck DeYoungNegative cash flow in real estate investing can be attributed to factors like low down payment, high housing costs, and poor expense accounting.

In comparison to annual MLS dues, the cost of obtaining an NMLS license is negligible, and more importantly the value of expertise it provides  clients is net positive investment for time and expense.