Because that mortgage payment will eat up almost 70% of all your available income.

Pros:- Everything is all in one place- Easier to manage, less hassle (likely)- More predictable - Easier paperwork Cons: - Less liquid (have to sell all or none) - All eggs in one basket Just off the cuff, those are my initial thoughts. 

As a lender, we require flood insurance if the property is in a flood zone, which can eat into your cash flow if you want to hold the deal. 

These could even be in a market where values are appreciating quickly. if you get caught at the top of the market, have an event happen that eats into your reserves, get a bad tenant, or just about any other event could take you down.  

I'm located in the Grand Rapids, Michigan area and am open to properties basically anywhere in southern Michigan (anything south of Muskegon from Lake Michigan to Lake Huron is fair game imo.)I now have a fairly large nest egg of cash beyond all of my other investments (stocks, bonds, treasuries, crypto) and I want to turn that cash into a real estate investment or investments and I think my deep background in tech, systems, and marketing should be able to help me substantially.It seems to me like BRRRR on multifamily units makes the most sense, but I'm open to suggestions.I'm basically retired at this point as the only work I do each week is 3-4 hours of consulting for larger tech companies and I'm on a couple advisory boards.What are the best first steps in building a team and creating the systems necessary to start making deals?

Do you all follow this if you accept both, or just eat the CC fee?

We live in California and we don't want to have all the eggs in one basket.

Personally I would not put all my eggs in one basket, especially if I "fell into this position"

The only downside that I am experiencing is that the PM I have takes 30% off the top, so having different houses in different markets means lots of fees eating into my profit.

It's the chicken-or-the-egg problem for first time investors.