Go small, gain experience, and grow capital smart which limits risk.I know some about hotels but not an expert.

Let's assume a location of stable or growing job market and population.

You'll be surprised how much more you'll learn and grow as you become active in the community!

Waiting list are awesome - I'm still trying to grow one@sam leon, you're getting some great advice here.

Personally if you are going for 4 flips in a year, try and find 1 or 2 good HMLs while you are searching for private money lenders who will give better terms - they will allow you the flexibility to make all cash offers which will be more attractive to sellers.Access to capital will be key as you grow so establishing relationships with the HMLs for your first few deals may help you a year or two down the road when you are finding multiple deals at once and need more capital.

Think about what you can realistically do now to grow your savings and build credit, at what point you'd have enough to take the next step, preparation needed to get to the next step, and five and 10 year or longer goals.I'm currently in a holding a pattern this year, so you could say my current business plan is to read more real estate books, be active on BP forums, post my adventures and ponderings on my BP blog, do more maintenance inspections on our rentals, dream ad explore five and 10 year options, and work to reduce expensive tenant turnover.

Be sure to check out this e-book on Using BiggerPockets to Grow Your Business

I am starting my business as a wholesaler, and as it grows, I will do fix & flip, buy and hold, & eventually apartment/commercial buildings.I am all excited about this business, because I meet people from every sphere, also being in my mid 50's, I need to build some residual income, to secure my nest egg for retirement.

I'd like to grow a portfolio and I'm not sure if starting with a 450k house is the right place to start.

If you're like me, you're probably pretty thankful growing up and working in that environment, because you get a hell of a headstart.