I'll start from the beginning:My brother and I are co-founders of an LLC (2 member), recently established with the intent to purchase buy and hold rental properties of all types, primarily single family and small multi-family homes as these are far more abundant in central Nebraska.

Now if you go over 4 units its a different ball game. 

Trust me, I know it's very possible and I know that's the main battle in this game.

Thank you for your response and yes im a new to the real estate game.

I am actually staying in an AirBnB this summer with my wife and her parents to show them my hometown (hopefully there is a Sox game then!). 

I grew up broke and promised myself that when I grew up and had a family of my own that it will never happen to them.I'm new to the real estate game.

Do we now play the waiting game and let the combination of equity growth and likely appreciation do their thing until we're in a position to borrow again?

I would also think that once you have an established portfolio you can start increasing that wiggle room.

Or if there's already something established, I'd love to join!

At $1400/month rent each day of vacancy costs $46 so maybe playing this game with the water isn't worth it.It just bugs me to pay $60 for one or two week ZERO gallon water bill.