I read that in order to get a second property, you need to demonstrate that you have enough cash reserves to cover the mortgages of both properties for 3 months, essentially having 20k plus on hand. 

As the property ages, repairs become more expensive and replacement of key structural elements even more so.

I won't dispute these assertions one way or the other, but I will say that the contract used to implement the strategy is the key element here. 

Clean the water heater heating element?

The original poster queried about the merits of what is essentially a copywriting question.IMHO, condolence statements from strangers are inappropriate and insincere.

Essentially what these guys are doing is creating an army of wannabe investors who have no clue what they are doing.  

The seller essentially is almost a FSBO with the listing brokerage putting in the MLS and almost doing nothing else for a low fee.

You didn't mention a niche, so, I added the below links for your review and consideration.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)To be more successful, you simply have to work on the other elements to progress your REI pursuit.

The two houses I own, essentially break even.My Credit score was 810 before I bought the Colorado house in may 2013 and Refinanced the PA house in october, and I bought a new car in December (for a new business) I also opened up 3 business credit cards.

So there is a fairly straightforward way to identify the free sessions that will be essentially worthless as far as content goes - they are designed to get attendees to pay for the next set of sessions.