Not sure any cons with exception the value is based on appraisal and not how the asset performs.

Additionally, you stated that you read Rich Dad Poor Dad, ask yourself if you think it is the best strategy to buy a primary residence, at market value ("not a killer deal"), live in it for a few years and then hope that you will be able to rent it out for more than your mortgage (and still cover CAPEX, taxes, insurance, property management, vacancy, legal fees, evictions.....etc) Also, keep in mind that you can buy up to a 4 plex with a VA loan (as long as you occupy one of the units for a few years). 

I work full time and plan to continue to do so but would like to add additional streams of "passive" income. 

Also keep in mind most people that are boasting their rate of returns don't seem to be saying if the properties are Class A, B, C, or D.One of the things that I do is look at my portfolio as a whole, I have brand new construction in Class A areas, in addition to Class B, and Class C properties.

(I've always thought that they couldn't give value to unpermitted additions.)  3.  

Each dwelling has variables to consider such as light exposure, reflection/absorption, finishes & materials in addition to the style that best compliments the architecture. 

New York City-based real estate investor building a high-performance portfolio of investments in Northeast Ohio where I grew up.

I have already performed my cash flow analysis and intend on walking inside and outside of the properties in the next 10 days. 

And if the property you purchase is depreciable, you may end up sheltering additional income too.

I'm an investor interesting in Memphis TN.How is the market performing?