What's the risk or cost to you if you face an eviction or a bad tenant because you used basic screening techniques? 

It will familiarize you with the basic terminology and benefits.

I wasn’t prepared to lose so much of my savings as carrying cost basically I paid for the tenants to live there for 3 months + my own living expenses in that time.

Left me feeling like a basically have a retail/fulfillment person on my team so I'm a big fan and would recommend giving them a shot, especially if you're in a similar position as I was: Needing to furnish an STR quickly and cost-efficiently. 

I was specifically interested in his 2nd plan which was "Building wealth through single-family homes" where he basically says you save enough to buy your first property along with enough for other fees and then you just keep saving the money you make from that property along with some money you save from your job and once you have enough money you buy your next property and then you basically just keep repeating that until you have your desired amount of properties.

We follow a similar model as @Bill B. and with similar results, except our properties are from the 60s, so we gut them and rehab from the studs up, basically resetting the clock. 

It will familiarize you with the basic terminology and benefits.

Keep your equities levered at 20%(half high vol, 1/4 low vol, 1/4 basic indices) and keep your phys/hard assets levered at 40%.

Take a one of my basic rentals - rents for $1250/mo - PITI is ~750 - CapEx/repairs ~100/mo - so say cashflow is $400/mo or $4800/year.

The upgrade basically put a target on my back with the fire marshall as he came by to inspect the work and found that there were a few compliance issues.