Yes true, but i dont want to invest into more houses for many reasons, in the state of NJ/NY and many more states tenants can get away with years of not paying rent, also they trash the house not all tenants  but some do. 

I learned this phrase about 50 years ago in my first year as an agent and its true today."

Two things are true at the same time. 1.

However, I think for the average person this is probably not true. 

Nathan I think this is true if your just talking about rental props for landlording.. the last 2 to 3 years have been the best years of my career.. building new builds and Loaning our funds.

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

The part about getting out of your own way is so true, especially with managing subcontractors.

Or a PM bizz  etc etc all of these are RE based but you dont need to own any RE per se . when you have investors that are not in the bizz IE not brokers lenders GC's etc etc they to me are true investors and depending on their background and funding ability scaling can be a pipe dream or one can methodically do it in what ever rental props they want to buy..

This is especially true in appreciation markets.  

This has been true about every technological change in the industry - those who fail or refuse to adapt lose while those who embrace new tech win.