That first deal was the equivalent of every training I could ever take and more, and not only did it not cost a dime, but I actually made money.For anyone who has the motivation, intelligence and discipline to spend a few months reading everything they can get their hands on, talking to other investors, attending REIA meetings, etc, there is absolutely no reason why they should be putting any substantial amount of money at risk doing their first deal.Especially if you're doing wholesaling or sub2, in which case, you should be able to attempt your first deal with nothing but a few bucks for marketing.Of course, gurus want you to believe that if you don't take their courses, you're doomed to lose tens of thousands of dollars, so the $10K you spend on the course is money well spent.Well, if you want to believe that BS, feel free.

The zoning process is a political process more than a legal one, and is not a "fill out the right forms" type of process.If you find a developer with specific experience in your specific city or county, their first advice will likely be t o schedule a meeting with the planning and permitting office (or its equivalent) to vet your likely request, and gauge your odds of success.

In the last 2 years, we've acquired the equivalent of 19 city blocks in downtown Jacksonville (roughly 12% of all of downtown) so we can be a major player in downtown Jacksonville's growth which will raise market values and rents for all of our clients who own properties in the surrounding neighborhoods.All of these activities make a real difference. 

From a cash on cash return basis, it is pretty much mathematically equivalent to traditional financing.

The other part is if you've got healthy investments in other areas(say 1-2 years worth of W2 in an alt investment) + 18-24mos of savings(w2 equivalent not spending equivalent) + your significant other is making some money(with benefits like retirement + healthcare).

We have a higher R value in the attic than you mentioned, and equivalent to the R value mentioned in the walls.HVAC guy on the phone just said Texas set a record for the most amount of days over 80 degrees ever recorded.

In my lease, I charge an early termination "fee" which is the equivalent of two month's rent.

Me personally I’m investing in the lower priced property and not relying on potential gentrification in 5yrs because the tenant base will be the same as the lower priced area for at least 5yrs.My reasoning is, I will have a higher cash flow and in 5yrs the profit I will receive from the cash flow and 3% appreciation will be equivalent to the prime location area.

Rents are not significantly less than mortgage payments for equivalent properties.  

If you have other cash equivalent investments such as cds etc that you could move to their bank they can control?