Apartments are different because the concentration of tenants increases the risks of ownership, there is a difference between someone who trips over a skateboard left on a step by a neighbor kid than by one left by your kid on the front porch.Insurance takes care of most risks, but not all, the risks not covered stem from your management and knowledge, which is the very best defense. 

If you concentrate on finding distressed sellers, then you will have the best chance of having an agreement that suits you because the seller has few choices.I have had as many as 225 options in place at one time, never paying more than $1 for option consideration.Good luck.

Generational wealth" is better defined as a concentration of wealth administered in such a way that it will last a family for generations.

With the availability of data science and out-of-state PM, in the future, I believe the issue will be more like whether someone would like to invest in a concentrated market, or very diversified.

Reasonable thinking would indicate that concentrating on pay it off and not accumulating more is preferred rather then thinking that investing is a path to getting out of debt.