Then the market crashed, contractors walked out on the job, the SEC appointed a receiver who knew nothing about real estate, and the result was after 11 years of receivership, we recovered 10% of what we had invested.  

Also how "fairly new" is a recipe for, as he puts it, "like a pilot who is inexperienced, such a GP might just be flying you to the scene of the crash." 

If one side has too much weight, you'll go up in the air or crash down.

Whatever you get now and hold onto for the long term will look cheap in the rearview mirror Haha, thankfully I didn't pick up the accent lol...I've been down since before the 07/08 crash so I've seen a lot of ups and downs.

I'm sure there are a ton of books that you'll find about no money down properties, etc that were written in the early 2000's before the crash.

Cashflow" threads pop up on this site since before the crash in '08. 

I feel like the stress level of owning a 3 unit out of state is totally not worth it to have a crash pad unless you already have a network of contractors, etc. 

Sometimes you need to think like a farmer.I have three rentals that were purchased before the market crashed.

It's this type of stuff that leads to crashes and devastates so many lives in ripple effects.

Wait for the next crash as people tend to unload their vacation homes first.