Obviously debt=risk, but add on top of that a property that isn't fit to buy cash, that seems like more risk then is necessary for a beginner.

@Kody Thompson thanks for the reply!

In this entire thread, there are some really good ideas about the investing part so the only thing I will add on that note is Airbnb.

and for that he makes 4% and the owner pays the on site manager as an employee  so there is no leasing fee's or any of the other add on's its one of the benefits of owner larger B class and above..

This is not a costly add on to a project, and usually ends up on the list once a home inspector does his walk through.

Key is you need a great team in place to make sure everything runs smoothly, everything looks great on paper, but in reality you will always hit road blocks along the way, navigating these is key.If you leverage correctly and have a good plan and pipeline in place you will grow extremely fast, especially if you continue to do value add on larger portfolios.   

We checked a few places around Hudson and Essex Counties, and the businesses on 1&9 in Jersey City had the best prices, ~$29/sqft all inclusive (some with sink, some as an add on).

@David DachteraI hope you don't mind I add on to your comments. 

I’d only elaborate and add one thing: rinse, and repeat!

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.