We do have recycling, it is not rocket science and every adult of reasonable intelligence can manage it.

Probably not likely unless you have a lot of cash in that checking account.From experience with my business (not real estate) no lender will entertain a line of credit without substantial cash reserves or very strong history to show.Probably better off trying to open a bunch of credit cards at the same time and use those for the repairs.

So far I have 1099, Advertising & Marketing, bank charges & Fees, Capital Expenses (for remodels) Car & Truck, Contractor, depreciation, donations, Employee benefits, insurance, interest paid, inventory assets, job supplies, legal &professional services, loans/points, meals & entertainment, office expenses, Rent & lease, repairs & maintenance, salaries & wages, taxes & licenses travel, utilities.

Hello All,

Need some advice on my particular renter situation. Currently renting my basement out to a single mother and her child since last March, original rent was $1575 (all utilities) and I saw her situation at ...

Hello All,Need some advice on my particular renter situation. Currently renting my basement out to a single mother and her child since last March, original rent was $1575 (all utilities) and I saw her situation at the...

In regards to the 80k, If that loan has good terms, I would try to keep it in play rather than pay it off.Happy InvestingDerek Dombeck Thank you for taking the time to entertain my questions @Derek Dombeck I will look into the first option as the property is not under an entity.

I would think it would be best to rent to a single adult since it is just a room for rent and I would keep looking for a single tenant to rent to.

It is distant from jobs, shopping, and entertainment. out of the way between Chicago and Milwaukee and not even close to the expressway. 

Making dumb moves as a teen or young adult is normal. 

because sooner or later I will work with one... and they want to see that you are serious and not just one hit wonder)The point I am trying to make is... begin building both virtual and physical network... and start diving into other peoples mindset... will carry you through the passion and begin helping you discover the true reality of retiring early...Note i am not the best person to listen to since I don't have 100 units property or anything like that... but what you will learn in my blog may perhaps be entertaining and perhaps just maybe make you feel less like you are a lone ranger diving into this journey, while also help you discover how you can create similar virtual/physical network...