If and only if the numbers work out for your current residence, you may consider renting that out to a tenant and then renting a much less expensive place in which to live (closer to work so you can get rid of one car and its related expenses?)

For me this would work out to a breakeven point of about 8.5 years. 

Has things pretty much cooled off from all the oil work out there?

Not sure if that's what happened, so I apologize if I am wrong.A friend of mine has reached out to me about RE and we still have to work out our strategy on paper and figure out exactly what we both will bring to the table to make this work.

If you don't have the money be prepared with some numbers that work out you can offer an owner financing option.

Has anyone ever given their tenants a document like this, and if so, how did it work out?

I have a little cash (around 100K) I'm willing to throw into a deal if the numbers work out.

All these rule of thumbs that are on this site don't work out numbers' wise in 90% of the markets in the US.

Maybe it would work out if you found one in real estate.These are all small suggestions, but the main point is to take a step back and look at the bigger picture before jumping to pay the irs $35K in taxes.

., hoping it would work out.