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    Bobby from Fresno, California, has paid off his home and saved $175,000 in three years. He's considering buying a $292,000 rental property with the full amount or splitting it to buy multiple homes. Dave Ramsey offered a warning: "Debt equals risk. More debt equals more risk." Ramsey explained that taking on too much debt can lead to lower cash flow and increased expenses, such as maintenance, repairs, and property taxes.

    Ramsey advised Bobby to consider all the costs associated with rental properties, including 50% of gross income going toward operating costs. He also noted that mortgage payments are excluded from this list. Experts recommend setting aside funds for unexpected expenses, which can cut down on cash flow even after a significant down payment.