We did take about 36" from an adjoining closet so we could make  a true "master bath."... and the professional photography with wide-angle camera lens also helped!

While I'm still at the stage of figuring this whole industry out, it's inspiring to hear the amazing successes of others.  

Networking is key in this industry.

Because I'm not a smart guy, or a savvy investor, I don't know how much cap rate traditionally swings in a particular market, but even if it only goes from 6% to 9% (which my research says was the industry average in the early 2000s) my property value drops ~33%, and now I'm looking at being upside down in a loan I need to refinance (because I'm at the end of my term.)

RE is an industry that tends to reward those who stay liquid and wait for things to fall into their lap.

My background is professional sales and marketing, and I grew up in the home improvement/construction industry.

@Chris Wilson you can certainly buy a home with what the industry calls "gift funds".  

The day job I reference places me in the construction and heavy industrial world as the corporate safety manager for a mid sized company.  

A good ratio is for every 130 units 2 administrators and 2 maintenance staff (even if some are part time)-tech savy and up on industry info.

But it is not a rule in the industry as far as I am aware (I've been in the business 30+ yrs.), that a house over 50 yrs. old has to be depreciated.