I'm sure the leverage fans are cringing at this type of analysis though.

:))I am a huge Audible book fan. 

Paul - I’m a huge fan of subject to and have been studying it for 8 months straight.

IOW--Imma fan of 2 br units.

@Andrew Toews I am not a fan of condos as rental properties.

I recently applied for a LOC at a credit union and they weren't a fan of my "debt" even though the payments aren't actually coming out of my pocket. 

Would only require $50k or so down payment from savings, but not really a big fan of this due to lack of geographical diversification.

This is why I'm not a huge fan of lease options unless you have a VERY qualified buyer you're confident you can get financed in a year or two.

This is not the way to get started.There are many people who have made millions but have hardly any worth (Jay Z, Tony Gwynn (National league batting average award is appropriate named after this great player), Rollie Fingers (one of best relief pitchers of all time), Pete Rose (all time hits leader). 

How much do you trust someone else to run it, are you looking for cash flow or appreciation, how expensive is it to get to the property, how long does it take to get there, is it place you won't mind going if **** hits the fan, etc.3.