That bubble will burst in a very legally challenging way for people who follow that bad advice.Second, you have to be in a position to handle a Due on Salecall.Third you have to be in a position to make every payment on time even if the property is sitting there vacant.You have to know why you are buying the property and what you are going to do with it to be cash positive without question.There are other things but that is a start.

LOL.. like risking 100's of thousands of dolalrs on a rehab project is nothing... that's the problem .. those with the attitude of they do ALL THE WORK and the money just sits back and does nothing.. :)  that is very nearsighted thinking and someone who probably won't get much going in the bizz.

You could go with a cash-out refinance to pull out funds, but you'd be sitting on those funds for a bit if you aren't looking to purchase a new property until next year which isn't ideal.If you aren't looking to pull money out on this one then you would be fine.

You may be allowed another use besides residential, however you need to confirm that with planning department where this property sits. 

You need a great agent to sell the place for you and not allow the listing to sit for long periods of time. 

The Success Path didn't feel good I mean don't get me wrong the seminar gave up some good information but by me being experienced in real estate some things they explained just weren't true and I can see how you lost your money because they do not explain the process clearly that's why I didn't invest right away I am suppose to tomorrow but finding your message brought clearly to me what I had felt sitting in that seminar.

Kyle sits right in that pathway. 

If you are a centimillionaire, legacy holding parks cash that has few other places to sit. 

PITI sits at $1550/mo.

Some of them are reducing rent rates and rentals are sitting on the market.