If you do not have a material margin of safety in every deal you will find yourself tired and desperate at times.

If you are running to the hardware store on a very frequent basis, or using your vehicle to haul significant amounts of materials, the IRS could question your level of involvement and whether you are providing services to the IRA.

@Alex Craig  unfortunately the cycle in these price point homes is just a rinse repeat cycle.. burnt out landlord syndrome.. local wholesaler investor snags them from out of area buyer tired of losing money.the chances are greater than 99% that htis person will never make a dime first 3 months his cash loss's will equal 3 to 4 years of cash flow so he will never catch up... and now he is stuck.. property as it sits is probably not worth more than 15k or so to a local wholesaler / low end turn key buyer... sad but true.And its why I always preach on BP buy the BEST you can buy not the cheapest.. the cheapest in the midwest markets is only appropriate for locals that own lots of these and do it for a living.. these are simply not appropriate for out of area passive investors they get killed financially .

I am really ambitious and tired of paying for courses that teach nothing.

I am using real estate as a vehicle to reach my goal of financial freedom.

With my non-tired free time I really enjoy learning new things (like real estate investing) or being productive in a way that doesn't relate to my business (like my own creative pursuits).Thanks again everyone for the thoughts this has truly helped clear the picture for me.

First I went and got the Mercedes CLS550 with the custom 20" Lexani wheels, then I later traded up to the Maserati Quattroporte (which is a beast of a vehicle by the way).  

Sorry alot of these other investors don't understand construction side of things cuz they get over their heads isn't fair to the one who's doing the work when they run out of money cuz they haven't dealt with anything of the sort & I'm tired of filing paper work over breech of contract it's old.

I believe I have pinpointed my biggest financial weakness as my vehicle.

Gino literally wrote the book on mom and pop apartments....Wheelbarrow Profits.Look for...Below market rentsOvergrown or not maintained landscapingDeferred maintenance on the exterior facadeNo online presence or marketing (word of mouth or signage only)All white interior paint schemesDated lighting and plumbing fixtures100% occupancy (can suggest below market rents)All rents in increments of $25 (a lot of money to be made in smaller increments)2 - 10 year residents at rent rates below new tenantsNo late fees in the P&LSelf-managing (tiring)Self-maintenance (a lot of work)