I'm also happy I bought this in all cash as the anxiety of having to shell out loan payments on a property that isn't anywhere close to ready to producing an income (I'm not comfortable renting until this problem is fixed) would have put me in a very bad mental state - and now that I think of it, a bank probably wouldn't have approved a loan with this problem anyway.

If you think of yourself as a "stupid person" - assuming you're not talking about a real mental handicap - then you are going to have trouble in everything you do.

Otherwise, the court will realize you are hiding one thing, 'so what else are you hiding' mentality ensues.Yes, once you have commercial properties (anything over 4 family units), your liability increases and you need to start looking more closely at having a LLC. 

Depends on your mentality of being a landlord.

I only had money to buy a 1-bed condo at the time, and I had some mental issues to sort through and the SFH within my budget at the time were in areas that was far away from the hopsital I was attending regularly so in short, I bought the condo. 

That’s pretty well my mentality at the moment, stockpile the cash.

I probably err on the side of holding vs flipping for a profit too much, as it's hard for me to mentally justify selling something now that I can 99% expect to be more expensive in the future. 

Have an abundance mentality.

I am living proof that with determination, hope, and constant work, the ability to move, mentally emotionally, physically, and professionally, in a positive direction can be done. 

Has anyone dealt with tenant who is bipolar, off their meds? He’s been fired from his job. Family had him involuntarily committed. Local hospital immediately released him. He gave a handwritten, scribbled notice sayin...