The fastest way to grow a small fortune in real estate is to start with a large fortune and then invest in Memphis without expert local advice :-).the absolute classic and truth in this thought process was the [post  2 or 3 weeks ago titled."  0 to 15 units in 12 months"come to find out west coast person decided it was a good idea to leverage their personal residence and buy D class 400.00 a door rentals in this market.. and I don't care what market any market this is darn near financial suicide..

He was Warren Buffet's mentor and the book is a timeless classic on the stock market and value investing.

Giving your tenant mutliple points of contacts will never work out well, the classic "mom vs dad" situation.3. 

As you do it, learn more about passive investment opportunities in real estate, stuff you can do sitting at home with minimal leverage.To be more specific, this idea you have of paying off your current house, moving into a bigger and better house, then paying off the mortgage for the second house by renting out your former house...that's a classic dilettante's idea.

@Raj Kothari Yes it’s a classic strategy to use the 1031 exchange to move from active to passive management.  

I come from a classical dance background working professionally around the country and performing around the globe with the most amazing people and companies.

Luckily, we knew a plumber and were able to install a sump pump system that drained out to the alley (a ton of hard work - digging a 3 ft deep trench 50 yards in the classic baltimore rocky soil).

A classic buy and hold rental book is Landlording by the late Leigh Robinson, often in local libraries or very low cost used. 

Did a classic old 1949 home built by the original owners who smoked 2-3 packs a day.

A classic example is a partially burned building.