If you buy a negative CF property and it appreciates a lot over the next few years like it did in the bay, I would say that's lucky but not a smart investment.I'm assuming you're not even accounting for reserves in case of vacancy, repairs, capex, etc...which makes it even more risky.That being said, if you're super wealthy and can take the hit in case things don't go your way.

Coaching is expensive but can make you very wealthy.

Also, given how hard it is to find a decent real estate deal these days, it doesn't hurt to add another passive way to grow wealth.There are only 2 important and possible ways to get wealthy. #1 Have/learn a skill that is in high demand allowing you to make a high income #2 Start a profitable business.

You can use the same techniques the wholesalers use, but KEEP the property for yourself to build wealth!   I

Although I'm a long ways away from being wealthy enough for this to be an issue: how should people who are planning for legacy assets (ones that they'd like to pass down to their children's children) evaluate IRR and deals?

It ended up not making sense to me, and the person that recommended it thought I was crazy for not jumping on this "magic"Several of my wealthy developer friends swear by cost segs.

With many of them fairly wealthy in their own right .. 

After that, since where I live is one of the wealthiest counties in the country (and no I do not live in one of the wealthy parts), I think my best bets will be to invest outside of my market with the BRRRR strategy, but I am also open to the idea of investing locally at the right price.Anyway, I just wanted to introduce myself & I hope everyone & their families are staying happy & healthy!

High leverage is absolutely excellent way to get wealthy over time, but these goals don't align with your risk tolerance-- hence my suggestion.

And long term wealth is a big reason why we hold assets.