Location is probably the most important factor of it all.  

With all of these factors coming into play.

Many other factors can influence the ultimate returns these projects generate.  

In addition to being part of BP, I recently signed up for the free Lifestyles Unlimited class, and I'm thinking about joining that organization as well, for all the contacts and educational opportunities there, too.

I would have started younger, for sure.I also would have bought and financed as many single family rentals as I could while I had a W-2 income, as it's a lot harder to get approved w/o one.Account Closed's suggestion of house hacking is good if you're OK w/ that lifestyle.  

You combat vacancy by knowing your market; targeting the correct tenant population; insuring your units solve a problem in their life / facilitate their lifestyle; providing value for the rent dollar and managing leases.  

@Kodie Altvater costs are ultimately a factor of 2 items, if you're efficient: labor+ materials.the goal is to arrive as close as possible to just those 2 factors with as little add-on as possible. add-on being profit, a companies overhead, etc. labor and materials are unavoidable (as well as other stuff like permits)....so how does one arrive at those costs?

Instead, I feel that MLMs are taking the potential entrepreneurs out of the workforce by selling them on this lazy, 'profit from a yacht' mobile luxury lifestyle.  

Make sure you factor that into your numbers. 

Due to my wife being laid off from her job we are wanting to make real estate investing a full time lifestyle.