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system
does this sound like a great idea regarding being a landlord and starting a real estate empire?
user
i have done something similar to this myself.  what you are suggesting is a sound theory and it works.  the issues are (which is why it's the reason not everyone does it) : the initial cost is great, many people in their 20s or 30s cannot afford their own home, let alone buy second properties.  the time to build up a portfolio is very long term and is best for a pension investment.  it's often not best for diversification - you've heard not putting all your eggs in one basket? with property deposits, you need to put a lot of eggs in to make it work and this can leave you vulnerable. there can be lots of work involved. renovating is a huge pain and cost and you've already mentioned tennants not paying!  unlike a bank account or bonds/shares etc.  you cannot get to your savings/investments quickly if you need to (or find an opportunity)  but after considering these and deciding the plunge is worth it, i would say go for it, be a good landlord, with good quality property and you'll have a great nest egg.  if you try just one and see how it goes, with population increase, in a safe (respectable) location, the value of the investment should continue to rise (which it doesn't in a bank) and you can expect a 5%+ rental return (very hard to find in cash account!)  hope it goes well!
assistant