Does your advisor think that 2 identical properties, one in pristine condition and the other needing a gut rehab are equal in value?

I see them as thieves and nothing more.

I've since refinanced the rental properties and paid the loan off about a month ago.I also used Discover personal loans and was offered almost identical terms.

Problem is there are a lot of thieves and incompetents, and when you are 1st starting out you won't likely know enough to be able to pick out these 3 and get them all right, and may suffer as result (believe me, I know from painful experience).I started by moving from Glendale, CA (nice neighborhood, but horrible for cash flow investing) to Palmdale, CA (not so nice, long commute, but cheap and much better cash flow).

@Derek E. my way or the highway strategy opinions are rampant on BP and their posts get voted up by the same few members who have the identical single-minded opinions.  

There were 5 other identical units for sale in this townhome neighborhood all listed at $210-215k so we wanted to stand out with the upgrades. 

In other places you might be getting pay cut every year for doing the identical.

(Thieves are stupid) They gave me my money back almost immediately after police report filed.

Unless it is a large production of Identical buildings.

And likewise your net worth is growing by that $600/mo (assuming you save it).Scenario 2: You buy four $100K properties identical in every way to Scenario 1, except with $25K down each.