Keep spending money on it, and if it is not working.. 

So basically $2M annually.So I could spend $200k and make $24,000 in a year, or I could spend $200k and make $2M in a year.

Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut. I specified that my budget is $15,000. After she gave me the numbers, I calculated the rehab to be around $16,000 ...

If you are able to manage it yourself, I think you will get a lot of very helpful education in real estate by spending a least a year or two doing that.You'll be able to work with property managers a lot better if you've done the work yourself for a bit, and it also helps to get familiar with the various laws and regulations you have to comply with as the owner, even if you do have a property manager in place (e.g., the new RI rental registry and associated lead paint inspections/certificates).It's up to you whether you're able to do it, but I think you'll get a lot out of the experience if you can try it for a year or two.

This reminds me of the discussion around pricing things at $x.99 instead of $x+1.00.EXAMPLE: $4.99 instead of $5.00Everyone "knows" that the price in the example is basically $5.So, why do billion dollar companies, spending more on marketing departments than everyone's combined income on this thread, STILL use the $x.99 pricing format?

Warren Buffet said the most important part of investing is to protect your principal. 

Answer because as stated above nothing is more profitable than high end paid training.. you dont need to buy any real estate.. just have a monster marketing spend and off you go.

Additionally, involve a real estate attorney to ensure the transaction aligns with legal requirements and protects both parties’ interests.

My firm integrated the services together and our clients have loved the one stop shopping for all RE accounting, tax, asset protection and entity work. 

You will also quickly learn how to manage properties well instead of spending decades figuring it out like most investors.