Can't emphasize that enough.

I emphasize the word "Safe" in my listings and am doing quite well.

After refi....you'd have $534k equity in $2,136,000 of real estate....and your $200k cash back in hand.....then repeat for cycle 3,4,5....Other posts have emphasized the leverage is helping you grow faster, and there are taxable income differences if you have deductible loan interest.Now, what if your local market experiences a few percent of appreciation per year?

if you listen to recent BP podcasts, David Greene has really started to emphasize this.

I want to emphasize that you should do your own research and consult your attorney before doing this.

And it emphasizes the need to focus on a niche.

The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.

There is also some sort of surcharge / tax for higher income  Might point is, emphasize how much you keep. 

Some really great points have been brought up already and one I would emphasize is site utilities.

I graduated from college with a business degree in business that emphasized real estate.