2) Any advice for a beginner looking to follow similar foot steps?

Come take a look at this newly renovated 1011 square foot 2-bedroom 2-bathroom condominium in Chadds Ford!

@Scott MartinWhat are you seeing in terms of cost to build per square foot in L.A these days ?

So do you usually pay strong attention to the rental agreements and write a lot of fIne print when writing them so that if said issues come up you can easily evict?

@Michael McConlogue My initial thought is that this property is such a mess that I wouldn't touch it with a 10 foot pole, UNLESS all the parties (owner, tenants, etc) all got together and signed an agreement working everything out.There are quite probably title issues with this and I suspect the parties have complicated matters so much by trying to do everything themselves that they've essentially made this property unmarketable.

I'm certainly not saying that the effect is immediate, but were rampant inflation to occur due to an influx of printed money (ie, quantitative easing, other efforts to inject more capital into the market, or even an effort to pay off debts to other countries), their are still only so many assets that can be purchased with those additional dollars. 

Not as much with REI.If you started to diversify in REI right off the bat, you may be shooting yourself in the foot. 

My students are rarely every footing their own bill for their housing so they don't seem to be price sensitive at all.

Print up half page flyers and drive for dollars or walk neighborhoods.

Life tends to be a constant game of meeting and changing expectations and when you take the first step in RE investing as, "I'm going to move into this 4 unit" you're stepping off with a great foot AND you are using the "silver bullet" of low down-payment financing the best it can be used.The primary additional benefits I find with 3- and 4- unit properties is diversification and economy.