I want to start investing in multi-family rentals in order to build wealth. I

Have you ever heard of a wealthy person who built their wealth investing in the market? 

Even if that wasn't the case, I know that the best-in-class developers belong to v very wealthy families so they could most likely complete the development if they hadn't sold a single unit.Of course, you don't always know about the financial situation of the developer.

Why not buy one property that is cash flowing to hedge against the one that is not and is much more likely to build long term wealth ? I

In my estimation the approach is to go after the whale like Netflix, rather than fostering an environment that creates a Netflix and the hundreds of ancillary business.There are areas where the wealthy of the area live but you don't see much outside of those walled communities that inspires investment and redevelopment in my opinion.It seems like a City treading water at best.

If you have a wealthy parent or relative that trusts you and wants to help, different story.

It really comes down to your net worth and when you can make the move to get out of the landlord game.I have to say, being a landlord sometimes felt like I was being taken advantage of just because people thought I was some wealthy person from California or Hawaii.

@Mark WeinsYou are overshooting home appreciation valuesActually wealth is built by staying in your home not constantly moving because of the transaction costs of constantly moving.

Equities is how you get wealthy and cashflow is how you can offset overhead.

You'll be wealthy no matter what you do.