If I had grasped this concept five years ago, my achievements today would be even greater. 

I've been a BP fan for a while, started listening to Brandon Turner and loved the podcast and the concept.

To intentionally reduce the leverage more than required is a foreign concept to me especially in the San Diego market.  

As we work in Chicago, we structure our agreement around these concepts.

There's a reason that people try to buy properties off-market and that is because you can find sellers who care more about terms than maximizing returns.So start with a conversation: you already presumably have some rapport since it's your landlord and you've spoken before.

I agree wholeheartedly, and if you've lived in China I guess you'll be familiar with the concept of "guanxi" which I think translates quite well to real estate.

I sure like the concept though.. and I bet its fun.

To be brutally honest i don't care if it's at cost, below or above, I only care what it is exactly and how much. 

Check about the concept of "house hacking", many people start that way.

However, be careful of taking on too much debt.