Not sure about NC but our philosophy before buying our first vacation rental was to make sure it was actually a vacation rental.

My philosophy is don't waste time. 

Understand your long-term investing philosophy to help develop your criteria for how to reach your end goals.2.

This is a great platform to learn from, but I would highly suggest reading (or listening to) some of the classics: Rich Dad Poor Dad (and all of the Robert Kiyosaki books for that matter), The Weekend Millionaire's Secrets to Investing in Real Estate (dated, but great philosophy), The Millionaire Real Estate Investor, HOLD: How to Find, Buy, and Rent Houses for Wealth, etc.

(I'm not heartless, I'm just not going to waste time and money on a deadbeat, I will stick to this philosophy within reason.)Once I've got enough properties to make management a full time job, I'm outsourcing to a property manager and will focus my efforts on managing my property manager.EXPENSES:Mentioned earlier, I realize that on average 50% of collected rents go to expenses along the life of the properties so I will set 50% aside diligently in the LLC's savings emergency fund to kick Murphy out of the business.MY LOGIC:I am risk adverse.

I was attending a local real estate club back in 2006-2008 who was into sales instead of how I see MeetUps today which align with Biggerpockets philosophy.

And quite frankly as someone with children and hopefully grand children and causes I want to support with a legacy after I'm gone -  these are strategies I encourage in my own behavior and other as opposed to a philosophy of "who dies with the most toys wins". 

I take deep issue with the two stories that are usually used to discuss the philosophy you're talking about: Alexander the Great burned his boats after sailing up the Hellespont into Persia and Hernán Cortéz burned his ships after landing in Mexico.

My philosophy on Real Estate Investing is just like stock investing.

I share your B/H philosophy, though the payout with B/H might be delayed given the home values in the bay area.