Amazon prime means impulse shopping and/or wasting time streaming movies. 

@Jason White,My first impulse is to say no matter how much you have available you'll want to invest for income in retirement to ensure that your money is growing at such a rate that you drawing your living expenses from it will not deplete the principal during your expectable lifetime.You may want to read up on self-directed retirement accounts and other ways of being a private money lender.My personal thoughts on buying property with no loans is that its roughly equivalent to gambling in the Wall Street Casino.

Another perspective is: The business is the seminar and attached impulse buying that it produces. 

My first impulse is to swap the carpet for high durability laminate.

No one who lives on a small city lot really wants to go to the mess and expense of getting rid of a problem tree, so if it's a maple or an oak, it just grows and grows and grows...Because the repair runs in the thousands (as you've seen) when the owner of an aging investment property learns that they have a compromised sewer line, there's a strong impulse to hide the defect and sell.

I've read his book, it's basic common sense, but most people have no impulse control and can't stand having $1 left over at the end of the month that isn't allocated to the next instant gratification consumer product.I'm trying to take a balanced approach to REI, use leverage in a sensible way and accumulate while having a comfortable cushion for bad times.  

And it's a $500 mistake gone, instead of impulsively buying another house that he may not be fit for.You're looking at it like it's a candy store. 

Profitable 20%-40%)Additional SF at below market costChange layout for more beds/bathsChange layout for Practical ReasonsRaise Roof for additional LevelBUYER & RENTER APPEAL: ("Impulses" Sale and can be Profitable 0%-25%)Upgraded countertops & cabinetsUpgraded BathroomsUpgrade FlooringInterior Trim Upgrade (Crown, Chair, etc.)Fresh Paint & WallcoveringCURB APPEAL: (First Impression Makers but not much ROI)Upgrade LandscapeChange Exterior Colors / Paint BrickNew Entry Door / Door Surround TreatmentNew Entry LightingSurface Coat Concrete Flatwork / Asphalt

That said, I'm willing to wait and learn versus being impulsive. 

The deal is done/can't take it back/impulse buy:Sick of my poor returns on my investments/retirement accounts so I purchased a small condo.