There was a podcast with the co author of the Keller Williams RE book, who felt these type tenants suited his lifestyle more so than the lessor property classes.

Then your kids inherit at a stepped up basis and depreciation starts all over again and they decide to continue on this same financial freedom plan and NEVER do a straight sale and keeps 1031 exchanging or refinancing, they can defer, defer, defer and die too.You need to start by reading Multifamily millions  by David Lindahl, Loopholes of real estate by Garrett Sutton advisor to Robert Kiyosaki and listen religiously to Del Walmsley's at Lifestyles Unlimited.  

The biggest metric to track is net worth on your balance sheet as this will help you start to "snowball" your investments, make you more attractive as you begin to scale your investments and ultimately the determination of your wealth which has the most impact on your lifestyle and impact you can have in your life. 

Selling real estate is not a job its a lifestyle...

I am a member of Lifestyles Unlimited. 

Long distance management of just one negative cash flow property wouldn't fit with my personal lifestyle.

This is my first post and I am eager to began my investing career and lifestyle.

In the midwest and my primary market of Memphis especially, there tends to be a range of residents that choose to live a lower income lifestyle and don't mind living in a C class area if the rent is only 700/mo. 

And if the investment returns are less than expected, or there is no cash flow at all, you can be left with partial or complete debt service out-of-pocket.If you use debt, be sure that if the investments had zero cash flow you could still service the debt without altering your lifestyle. 

It was without a question a "frat" lifestyle.