So I personally require a sponsor in this asset class to have at least one full real estate cycle experience with no or very little money lost.

If the op went on one of those website and created his own LLC and choose the wrong tax classification because he had no one guiding him it would cost thousands in lost profits later on.

Even if I lost 50% of the value in my home overnight, I would still be above water because I have nearly a dozen doors, purchased through the HELOC funds, paying the "mortgage" on my home.This is just 1 strategy and your mileage may vary... but I thought I would throw it out there for your consideration.Good luck to you!

But, fortunately, the banks don't spring this on you right at closing.  

I had lost some money in stock in the tech crash.  

I was fortunate and spent some time in commercial real estate and that is where I learned how analyzing properties.

I recently took part in a Fortune Builders 3 day seminar.  

I know there are plenty of people who have made fortunes in the stock market. 

I'm in the international development consulting industry, mostly working in private sector development/economic growth arena, and fortunate to be living overseas...at the moment, in Istanbul, Turkey.

I was fortunate to get a property that cash flows.