Purchase: He says banks don't offer 30 year loans for CRE.

Purchase price: $2,225,000 Cash invested: $350,000 Purchased a 40k sqft ft mixed use building on Main st in Middletown, CT.

Obviously, you are planning on doing your own property management once you purchase your first rental. 

it doesn't cost a lot to put utilities and parking pads in or even entitle it or to purchase land. it's just a lot of work that no one wants to do. parks are hard to get approved but they are not expensive to develop. it's nothing but utilities and parking pads and an office. harder to finance too, but compared to apartment development or mixed use development it is one of the cheapest and highest performing assets because of reduced construction costs. 

Then, I quickly list and purchase 4 one day stays.

We currently own 1, 4 Plex and am  working on strategizing the purchase of the next one.

Quote from @Cody Miller: I have been in my home for 7 years and have accumulated some equity and wouldn't mind using this to buy a rental Most people will recommend you cash out some of that equity and use it to purchase a rental.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Our OPINION for the most markets (always verify each area for yourself!)

My wife and I purchased our first property two years ago in Salt Lake City for a good rate at 4.29%. 

Purchase price: $50,000 Cash invested: $30,000 First BRRR property.