One example is writing multiple simultaneous offers when the buyer can only afford to make one purchase at best.So...

This phenomenon explains how people might be unaware of their lack of knowledge while simultaneously believing they are more knowledgeable than they actually are.I hate the phrasing "you don't know what you don't know".

The larger the DP, the more "you" paid for the property since the rest of it, if leveraged, is paid for by the tenant...as long as you have positive CF.Example:  $100k property; Cash Flow without Mortgage = $10k/year;  CF w/ mortgage = $5k/yrOption #1 - 100% cash purchase of 1 propertyCost = $100k; Equity  = $100kCF/Yr = $10k# yrs to recovery of cost = 10Profit after 10 years = 0Option #2a - 20% DP; financed = $80k of 1 propertyCost = $20kEquity = $20kCF/Yr = $5k# yrs to recovery of cost = 4Profit after 10 years = $30kBoth properties appreciate the same based on $100k in property valueOption #2b - 20% DP; financed = $80k times 5 properties (using the same $100k)Cost = $20k/property = $100kEquity = $20k/property = $100kCF/Yr = $5k/property = $25k (5 propertis)# yrs to recovery of cost = 4...all 5 are recovering simultaneously Profit after 10 years = $150kAll 5 properties appreciate the same, but the total appreciation is now based on $500k in property value, meaning you would be gaining appreciation 5 times faster than the first 2 Options.

Quote from @Leo Ray: Quote from @Robert Gibbs: Quote from @Leo Ray: @Robert Gibbs welcome, and good luck on your investing journey.My two cents:  a house hack (which can be a single fam or small multifam property) is the best way to start off--and is a far better strategy for a beginner than an OOS property.A good house hack will simultaneously lower your living expenses while increasing your income (the fundamental recipe for building wealth), it will teach you many of the essential skills you'll need to succeed in REI (like due diligence, tenant screening, property management, etc.), and--importantly--it's MUCH simpler and easier than other strategies like OOS investing (which tends to have a lot more risk and a much steeper learning curve).  

It takes an avoided passive expense (avoid property manager), creates a passive expense (property manager) and simultaneously creates an active income (self-manager LLC). 

Which is also bad at the same time for getting a decent deal, since supply cannot keep up with demand and prices go up, and rentals don't adjust simultaneously. 

Get with your lawyer, but maybe you could utilize special option period clauses & simultaneous closes to only sell your property if you found a suitable replacement?

Originally posted by @Michael Gansberg:Isn't in funny that politicians who bang the table loudly for a higher minimum wage with one hand simultaneously write legislation with their other hand which prevents landlords from profiting off their capital and labor?

If I only knew then what I know now.Try to learn as much as you can while simultaneously taking small actions toward your goal.

@Cole Druffel I work simultaneously in multiple markets and have to say that by far the most important thing is building a solid team of people that you can trust.