My primary business is owning a wealth management company, and is where I enjoy spending my time.

@Vidit Maini Until you are an ESTABLISHED business I would recommend just keeping track of your mileage for deduction as opposed to spending the extra money to buy a “company vehicle”.

The five people you spend the most time with will influence you.

Many voucher holders also work and so sometimes they will have a higher amount to spend than someone who doesn’t work because they can pay up to a % of their net income from the HA’s calculations, often 30-40%.

Spend some time considering how the repairs will get you a return on investment.

You’re going to spend hundreds replacing the fridge and then spend hundreds per year on bottled/filtered water instead of paying a plumber a couple hundred once?

My goal of refinancing was simply lowering our monthly spending to reallocate towards future investments.

To continue with the 8-unit example, you again end up spending many multiples of these costs to build a comparable portfolio of single family properties.Another disadvantage of single family properties is that there is only one tenant per building and if they stop paying or if there is a vacancy, the entire cost of that property is on you and your wallet until you can fill that vacancy and get the rent coming in again.

Be prepared to spend a lot of money creating the infrastructure.  

You can EASILY pass several million to your heirs tax free and avoid at least a $1M in taxes if you spend anywhere near 20 years investing in real estate.