Work your butt off, live for as cheap as possible and pay off that debt.

It can be a cheap way to generate leads, but personally I think there are better ways. :) 

The downside to the model for me is that investors are cheap and are not swayed by the emotional attachment that an owner occupant would be.  

Thomas S. point out, there is a reason certain apartment buildings and areas are cheap relative to their rent roll. 

At 4.75% 30-yr fixed that is very cheap money - especially when it's liquid capital.  

As I am new to that area, I am considering getting mentored by someone who has been there and done that for a few years.Of course, like everything else, mentoring is not cheap.

If you can get the lot on the cheap and think you can put another cookie cutter house on the lot then go for it.

I met with some of the guys at RS, but their programs don't make as much sense for us since we get cheap hard money relatively easily. 

I purchased a 3rd rental property in Los Angeles last year -- A SFR in a booming area I got off market for really cheap.

Judging by how often I see ads from crowdfunding sites, they're pouring a lot into customer acquisition, and eventually we'll see a wave of consolidation once folks start burning through their funding (that is not unlike what's already happened or is happening in areas like food delivery and home services).