If he thinks the only way to landlord is via paid-off properties; HE's NUTS.

In 10 years, when you have a nice portfolio of homes and they're cash flowing nice chunks of money, you'll appreciate the amount of time, energy and effort you put into your business and will get to enjoy the fruits of your labor.When I first went to the cpa I've been using for the last 5 or 6 years and explained what I was doing, he said, he's heard it before.

So, I think it definately takes more savvy these days, but there is still low hanging fruit in the Carolinas, Georgia and Florida everywhere I look. 

Beyond that, a healthy familiarity with the nuts-and-bolts of all things REI (market research, strategies, deal analysis, property management, etc.) goes a long way in communicating with the team and articulating exactly what you're looking for.

That kind of stuff is what really drives me the most nuts about the program, the fraud/abuse of the system.

However, these properties won't be low hanging fruit.

There are no low hanging fruit deals these days, you have to make things happen.

Remember with every rental purchased you are planting seeds for a tree that will mature to provide fruit forever.

Try picking on the low hanging fruit first, "Pre-foreclosures" you already know they are in trouble.)Would also “drive for dollars” by biking and running but only in my local neighborhood here in Northeast LA.

Goal is to get one that has equity, covers the nut (PITI) plus a little and you can get your cash out on the refi.