Quote from @Michael Smythe: @Erick Pena please understand that buying rentals is NOT passive income! 

@Michael Whitman , it would totally depend on the company, but you make a great point.

Thanks Dylan and Michael.

Quote from @Michael Baum: Hey @Marc Shin, what you can do is add a second layer of drywall over the first.

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

Quote from @Michael Smythe: @Don Konipol mostly good stuff!

Quote from @Mike Brown: Quote from @Violet Cobb: Hey Michael S Brown, and everyone else who has mentioned me in a comment on here.

Quote from @Michael Smythe: @Jermaine Washington how do you know they've legally abandoned the property?

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

Quote from @David Gordon: Hi Michael,I decided to move and rent out my old property this year so I am interested in going to a CPA for the first time.