High net worth LPs don't really like to reveal themselves on public forums.

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

I am sure I will be very publicly wrong, and you all can make fun of me in two years, when stocks double and real estate prices crash 20% from here, but I just don't know how you can watch this industry, this closely, for this long, and not be raring to go in the current environment. 

We would like to learn about how we should have went about it so that we can purchase more properties, minimize mistakes, and reduce our reliance on corporate life.

However, you'll likely be able to put more money in your pocket if your reducing your living expenses in a HCOL area.

Do not place yourself into a position of needing to sell in a reduced value environment. 

All investors look forward to this concept I suppose, but curious if we'll see days ahead where 'nobody' (with regard to the general public) will want to buy real estate 'at any price' - as it seems to happen in other types of asset markets from time to time.   

@Dave Bobka @Justin Arnold So, if an investor is looking for a larger, family style home for a Section 8 tenant that is dependent upon public transit, this would be a great property, wouldn't it?

You could also add cash to your exchange account to reduce the debt replacement if you wanted. 

While not mandatory, a specialized accountant can reduce errors and provide significant tax-saving strategies tailored to your situation.This post does not create a CPA-Client relationship.