It's the principle of it.

The basic principle is that Realtors must not practice outside their training. 

It is absolutely the fault of ill-prepared investors, poor management companies, unscrupulous business persons peddling houses to unsuspecting buyers, poor government and lax over-sight. 

You won't get rich overnight but there are certain tried and true principles to building wealth slowly.

Are you going to be visiting and evaluating these properties yourself, or buying sight unseen? 

A principle to keep in mind is that for purposes of qualifying for a loan, lenders will apply 75% of the rent and treat it as your income.That means that your best chance is to buy a 4-plex (5 and up needs a commercial loan) with very expensive rents. 

How many of you have purchased property sight unseen, either in your local market, regionally, or out-of-state?

Personally, if I am going to leverage, my formula is: PITI (principle/interest/taxes/insurance)+maintenance + vacancy + capex  *equal to or less than* monthly rent * 50% . 

Same principle when you are trying buy real estate and do not know where you are going. 

Usually after 10 years though you would have to pay a principle and interest payment on whatever the balance is.