This particular strategy was personally told to me by Jimmy while we were driving from Phoenix to Las Vegas in the early 1980s to attend a real estate exchangers conference and exchange session.   

Hey @Kyle Kline, these are all great questions to ask and ultimately it will be personal preference. 

For background this is my first investment and I own the property personally not with an LLC or anything of that nature. 

I personally would put down 20 percent and keep the rest of my cash, even if it meant I wasn't "making money" in the beginning.

However, the person you spoke with has a good point.

If anyone is interested I have a contact person who can provide more information. 

@Grant Vincent Personally, I prefer to stay at a place that's 100% wood inside, no drywall and no paint, because I want it to be as dissimilar to home as possible.

Share your thoughts, experiences, or even strategies in the comments section below; then let's get this conversation rolling and make a lot of cash registers ring too!

There will always be more risk with something vacant, you're probably going to be counting on one person as your "eyes" on the project (or at least for "security", overall)- and the more hands on/ closer they live / able to visit site frequently, the better. whether that is your gc, a project or property manager, or your handyman/even yard maintenance guy, neighboring teenager, or whoever- this person is key

A truck is personal property and would not become yours simply because it's on a piece of real estate that you bought.