Again, read WCI, posts about guys living paycheck to paycheck because of lifestyle creep when they are senior doctors.

Suarez,Although I don't truly consider myself a complete minimalist, I have definitely felt like one over the years at times in terms of lifestyle.

Investing in real estate without a frugal lifestyle already established that is directed toward maximum savings and minimum personal debt is a formula for failure.

Other markets may meet your finanical criteria better but not your personal lifestyle needs, etc.  

The things that will give you an advantage are 1) being willing to live where you find a deal rather than prioritizing neighborhood / lifestyle.

Depends on whether your analysis tells you that you are highly likely to net a financial positive (which is usually the case, in my experience) in a place that you will be happy living in.Fourth, with a high savings rate, no commute, a rapidly optimizing lifestyle, diminishing debts, and a growing pool of capital, you are going to go through a transition.

Boise, Idaho is excellent for an incredible outdoor oriented or even urban lifestyle that is affordable. 

In fact many of the tenants in our SFRs tend to move on to purchase their own houses, whereas many of the tenants of our multifamily properties are on fixed income and/or are elderly and intend to continue to rent.The quality of tenant will depend on the quality of the neighborhood, the quality of the building, the management style of the landlord, the lifestyle the tenants are seeking and what they can afford.

Certain new habits and lifestyle changes in my opinion should be permanent because it just makes sense to leave them in place.

I honestly feel like an appreciation play is for more experienced an seasoned investors who have already been investing and have enough cash flow to cover there current lifestyle and more.