That being said, I have CA investor friends who buy in multiple states without ever seeing their properties, depends on your risk tolerance. 

I think this will really depend on your risk tolerance and honestly sometimes opportunity just falls in your lap. 

If the value of the properties go up, you can also cash-out refinance and buy more rentals.Ultimately, it's about preference and risk tolerance. 

There are high risk markets and properties and low risk properties and markets...and everything in between.When investing it is important for someone to decide what their risk tolerance is, and match that risk tolerance with an investment that matches it.

Look to understand your own risk tolerance as well before stepping into this arena. 

Here are some of the key things to keep in mind when choosing an asset protection strategy for your rental properties:Your risk tolerance: If you are not very worried about being sued, you may not need the best level of protection.

Cash flow is hard to find these days but it does exist and deals are closing every day in Denver :) It's going to depend on your risk tolerance and life situation in general but if you are willing to think outside of the box, then you will definitely be able to make your start in the investing world.

Also, depending on your risk tolerance, you may want to get a mortgage on your ranch and use that cash to put 50% down on a couple of rentals.To get to 20 houses you're going to have to learn more advanced strategies, but to get started just get 1 rental to see if you even like it. 

Here are some of the key things to keep in mind when choosing an asset protection strategy for your rental properties:Your risk tolerance: If you are not very worried about being sued, you may not need the best level of protection.

You need to balance your risk tolerance of someone who very well may have no idea what they are doing with their projected returns.