Multiply that by 8 properties and that adds up quicklyAt this point I've amassed around $150k in debt, I'm spending hours a day trying to find large multifamily properties with nothing to show for it and the whole passive income dream I was sold seems to be a huge lie.

Spending $15,000 on minor updates in a Hyde Park two-flat could raise the rental unit's value by $300/month.5.

Spend more than half of your total working hours in an RE business in which you materially participate.2.

The HELOC would act as en emergency way to tap into their equity if needed - as long as they don't spend it unwisely!

Start anywhere—offer to assist, intern, whatever it takes—and absorb as much knowledge as you can.

I wish you all the success and please don’t hesitate to reach out if I can ever assist or support you in any way.

The $200 you spend will help with your learning curve which you do not want to get from the CPA at $350/hr.

Sometimes I have even directed troubled tenants towards assistance programs (such as single moms because there are a lot of programs for them specifically in my area especially).

To minimize upfront costs, explore down payment assistance programs, creative financing strategies like seller financing, or rent-to-own agreements. 

I wouldn’t buy a house to live in right away, as I need to spend the first 12 months studying the area.