🤔Here are a few qualities that, in my experience, separate the good ones from the great ones:1.

No one is going to give you money when you have little no experience at all yet.

In my experience, 75% of the time, the tax payer doesn't have a large enough liability to justify the accelerated depreciation anyhow- depending on your income and tax bill, it might not matter at all.

While each person has their own perceptions of a rough part of town, in my experiences, I do avoid them.  

Quote from @John Williams: Has anyone been on the lender side of private money and had a bad experience that they are willing to share?

For a truly passive experience you'd probably need to be an investor in private equity deals or be a silent partner on a project.

The information provided is for general knowledge based on my experience and should not be considered tax or legal advice.

From my experience, you can use that savings to house hack with an FHA loan, invest in a turnkey property in a more affordable market, or even partner with others to expand your purchasing power.

Experiences will vary significantly based upon location.

Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate.