Also, remember not to place all your eggs in one basket, asset class or geographic location. 

It's not smart to put all your eggs in 1 basket - who's going to monitor them?  

I was able to build a nest egg of several 100 hundred thousand dollars.

Our side hustle is selling farm-fresh, farm-raised, free-roaming, chicken eggs.

The losses generated from that 1.5mil building via cost seg and depreciation would be more then enough to offset your income, and you could invest in other things if your not comfortable putting all your eggs in one basket.

Also, with patience, a lot of diversity can be achieved by spreading out funds to a number of such investments, rather than putting all eggs in one basket. 

This is not a chicken or egg question it is a chicken or tractor question.Keep in mind buying a personal home is a life style decision and not considered to be a investment per say, many view a personal home as a liability since it is not generating any direct income.

Do you want to put all your eggs in one basket into one asset?

@Jared Egge, what type of multi-family.

We've been super consistent with having renters for 8-10months average stay and gratefully cash flow $3k/month to help us build our next egg for our other investment properties that we bought.