However, I’ve witnessed cases where the investor went “all in”, spending and losing many millions.  

Many voucher holders also work and so sometimes they will have a higher amount to spend than someone who doesn’t work because they can pay up to a % of their net income from the HA’s calculations, often 30-40%.

@Vidit Maini Until you are an ESTABLISHED business I would recommend just keeping track of your mileage for deduction as opposed to spending the extra money to buy a “company vehicle”.

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

I mean, obvious right, people can only spend what they have. 

While it will likely give you more confidence and answer a lot of questions, I would say that talking to a seasoned investor, or even agent that works with investors, is a way better idea than spending 8K on something that you don't know too much about, especially before your first deal is done.

@Wells H. you can spend DAYS driving through Detroit!

This is going to keep your bid honest, rather than lazier and keep your cash position stronger. 4) The only time you spend in this, is finding & closing on the quality assets and playing devil's advocates for repair/rehab/fixing costs.

My goal of refinancing was simply lowering our monthly spending to reallocate towards future investments.

Of course, managing your own properties is a good thing (instead of having to spend the money on a manager), but you have to manage your property in a professional manner.