I've known folks who were independently wealthy and intelligent to begin with, and wanted to pull their hair out after deciding to manage a flip.

There are also sophisticated private lenders (lawyer's, doctor's, and other wealthy individuals) that lend out their money.

I think of it as "there are those that quickly or  eventually get wealthy, and those that just give" Those are the two basic people that I have seen in Real Estate.

If you already 'get it' - that the only way to work is not for someone else after getting a college education, or that acquiring a house or two every year will make you wealthy - then I'd get to nuts and bolts about how and what to buy.  

Keep in mind selling property can make you rich, renting out property makes you wealthy.

My loan officer keeps telling me the best way to build real estate wealth is to finance a home with low money down and then live in the house for 2 years, after two years buy another home with little money down and keep the first home as a rental property and keep going from there.

Again, the problem with this scenario is you CAN diversify but 2/3 of your wealth is going to be tied up in real estate DSTs. 

There are benefits to renting in some markets (NYC/LA) and for some people based on their situation (transitional), although I would not recommend it as a long term solution to building wealth.  I

Even though I'm not that wealthy, money as I get older has lost its glamour.Which course of action would you take?

I plan to surround myself with busy, successful, wealthy people so I'm going to pitch at the REI to see if any older investors are looking for help then maybe I can partner with them on deals.