Perhaps the SFR market is overvalued now and 1% rule is just a simple valuation tool like a P/E multiple in equities telling people to stay clear.       

I have only done a few deals but the thing I constantly having to remind myself is R/E is a long game. 

Rental income would be reported on Schedule E, and these write-offs could offset other income if you qualify as a real estate professional.

Idealizing a past scenario is purely negative.

Quote from @Evan Polaski: @Jay Hinrichs, while I wasn't going to call them MLM, I did attend an Armando Montelongo (A&E's Flip this House from mid 2000's) seminar at a hotel conference room in 2007 or 08, which was the free funnel to spend $1,500 for a three day seminar or $25,000 for an in-person mentorship.I have seen similar promoted with Christina and Tarrek from Flip or Flop more recently.I didn't start realizing how profitable education can be until the last 5 or so years.  

Ideally AI could improve the property analytics that shape listing prices, a competitive advantage over other brokers.

Prepared to hold for 8 years, ideally 10-12.

A duplex, triplex, or fourplex is ideal because the more units, the more financing options banks may offer.

I dont like the ideal of prospecting 5 days a week and im a single dad so the weekends are a no-go. 4 days for calling 3 days for follow up and appointments. 

As for insurance I deal a lot with that here in Tahoe and western Reno.