If you are able to manage it yourself, I think you will get a lot of very helpful education in real estate by spending a least a year or two doing that.You'll be able to work with property managers a lot better if you've done the work yourself for a bit, and it also helps to get familiar with the various laws and regulations you have to comply with as the owner, even if you do have a property manager in place (e.g., the new RI rental registry and associated lead paint inspections/certificates).It's up to you whether you're able to do it, but I think you'll get a lot out of the experience if you can try it for a year or two.

Time is a valuable resource and "spending" it everywhere at once isn't worth the effort.

“Guest, every 5 star review is critical to our success.

Most likely your conclusion is correct, but the only way to confirm it is by having a real estate accountant review your tax situation.Also, please read this introduction if you want to better understand the concept:https://www.biggerpockets.com/forums/51/topics/1075919-five-...

But to me that would be a spending problem, not an income problem. 

Posting this duplex that I found here in the heart of Eastern Michigan, I've been frequently trying to run numbers on duplexes and investment property listings as an up and coming agent and investor to try and gain wh...

But I generally don't find that clients need to spend that much money on the process when some simple coaching can make them comfortable in their search.

I would spend a few bucks on nice ads in local magazines and/or do flyers in areas that are higher income. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

I “assume” they meant you wouldn’t defer all your taxes if you used leverage on a $450k purchase instead of “spending” all your cash.