The most common misconception was that Whole Life is an investment in and of itself.

Almost everyone within the commercial real estate investing realm shares a common misconception involving 1031 exchanges.

Absolutly, but it will take time and a lot of work, I think the biggest misconception is people need x to live on monthly, but when you reach x, you want more…eat out more, nicer car, more vacations etc so that x becomes more and we keep chasing a bigger and more expensive life.  

You originally stated the two misconceptions/incorrect statements I’ve outlined above.  

Multifamily deals are a whole new ball game – it's a common misconception that you can just scale up your single-family approach.

There is a common misconception of what purpose and LLC serves in real estate investing.

One of the misconceptions investors have is they open a LLC for real estate and owning rentals and think they can get business credit, which would be like opening a LLC to trade stocks - business must be operating and generate revenue and EBITDA

Anyone can do the same and the biggest misconception I see is “passive income”.

(Note: This is a common misconception that can cost you thousands in taxes if you don't establish a Solo 401k/eQRP to shield your money from the IRS.); (2) "I'm not engaged in any for-profit activities, but I set up an LLC a few years - so I've got a business and can adopt a Solo 401k."

It is a misconception to think that just setting up an LLC will protect you from liability.