One of the critical elements of the 1031 is that in order to defer all tax you must purchase at least as much as you sell. 

Even if we had the money there would be politicians and labor unions to deal with ( and maybe pay off ) environmental reviews , homeowners groups , lawsuits etc .Low barrier to entry and low price doesn’t necessarily mean low risk though as we’ve seen from those that have lost money with certain turnkey providers that promised real estate as a low / no risk “hands off “ way to create passive income and wealth .I agree also that a lot transfers and you often hear people on BP podcast and other places say things like “We aren’t in the real estate business we are in the marketing business “ especially if they are wholesaling for example .

One element for a bubble is over leveraged financing.

in my opinion, this post does not have the element of how to win friends and influence people. best wishes @Rudy Ferrara in your Real Estate endeavors  

At the beginning of a new venture I think there's am element of hustle needed and working long hours is what you signed up for.

There are too many elements like that in this day and age.

It's hard to get rich paying down the debt, but there's certainly an element of comfort there. 

Can't do both very successful.Your broker sees you as an element to satisfy his brokerage needs, he wants you to be a pawn, to chase listings, to show properties and to sit around on floor duty in the hopes and anticipation of creating some commission income for the brokerage and a small fee to you.As an investors, you have a fantastic opportunity to represent yourself, to make offers for yourself, to control and flip real estate for your benefit, to earn more in one deal than you could make in coop commissions in months.I say don't be a servant, represent yourself, make offers as a principal and collect outrageous profit for you, not an agency!

The equity pay-down by your tenants is the piggy bank.Naturally, the ratio between these elements will vary from deal to deal depending on the market environment and your focus.  

You would also have to pay for an environmental inspection / building inspection.