And thereby limit my ability to purchase a $1,000,000 2nd home?

You will have much greater success dealing with local banks where the loan officers are often responsible for their book of business and have the ability and lee-way to make deals.

Yes Tony a TRUE Triple Net the landlord will not pay those costs.Lately net lease companies especially credit rated tenants have been more demanding in trying to get the landlord to cover some costs.It is very important to look at the length of the lease and terms and escalations.With inflation if the rent increases every 5 years is marginal and they want you to take care of certain items with the property it can drastically reduce your returns.It's all about what returns you are seeking versus the security and consistency of the payment.Generally triple net will hover around the 6 to 9 CAP range but will not approach the teens in most situations.For those kind of returns you have to usually chase after value add deals but they are much more work than mail box money from a credit tenant.Credit tenants have risk which is why you also research heavily the health of the tenant today you are acquiring the lease and their growth plans for the future along with reserves.

Are you talking about the ability to leverage or the ability to limit risk?

I personally like the fix and flip one, use the funds for your down payment on each hold technique since you have mentioned the fact that you have a great team and ability to get great deals often.Bill's suggestions and owner carrried notes or sub2 deals are also great options.

What I'm trying to get to is time is needed and the ability to do certain things, or having others do them for you.

Also, are you a cash flow investor or do you prefer equity growth through appreciation?

I'd like to extend the cost of the water to the lot renters by submetering each unit and sending them a bill (or having a third party do it) I was wondering, who has done this, how much I'm looking at spending, are permits needed, where can I go about getting the best deal on hardware (should I use a wireless meter which gathers data 4 times a day that I can review from home?)

He's sacrificing capital growth as a result.

This site is amazing and will benefit your RE growth.