Anyways here is my current assets and liabilities and I want some advice on the best way to purchase the homeCurrent Residence Value $1.2M debt $200,000Rental Condo Value $650,000 debt $229,000Rental home 1 Value $65,000 rented $800/mo cashRental home 2 Value $65,000 rented $850/mo cashRental home 3 Value $65,000 rented $950/mo cashRental home 4 Value $65,000 rented $950/mo cashRental home 5 Value $65,000 rented $500/mo(our maid)Land Value $150,000 rented for $700/mo cash to a car lotLand Value $150,000 rented for $350/mo to a small hair salon in a 400 sq ft structureAlso have a car financed at $1500/mo, i know i know cars are bad investments, well I have an incurable disease and im not going to live forever, so I put half down on my dream car, its an exotic and should appreciate anyhow, and financed the rest at 1.99% through chase private client.So my issue is when financing the expensive rental was debt to income, as you can see alot of the rentals I have are lower income rentals and the people pay me in cash.

Shorter-term lease options, including month-to-month, are available, and will be charged additional monthly rent (up to 125% of long-term rental rate) and/or a non-refundable convenience fee of $300.Please review the lease agreement prior to applyingSmoking Policy: Our rentals are strictly non-smokingTenant’s guests who smoke should only smoke outdoors, at least 25 feet from any door or window and not on the propertyTenants will be fully responsible for damage caused by them or their guests during their tenancyPet Policy: If pets are allowed, pet deposit may equal up to 100% of security depositPet rent of $30 per pet (up to a maximum of $90 a month) may be appliedMaximum 3 petsBreeds not allowed by insurance include, but are not limited to: Animals with a previous bite history or vicious propensities, Dobermans, Chows, Rottweilers, Akitas, American Staffordshire Terriers (Pit Bulls), attack dogs and Wolf Hybrids, (or any mix thereof) Ostriches, Emus, Horses, Farm or Ranch animals, or any type of wild exotic animals or pets.

[it] also will address exotic animals such as alligators and the number of animals each individual tenant can request in their unit.”Let’s hope it comes out sooner than later, and actually clarifies the issue.

Liquidity and stability are more important than earning a couple extra percent in an exotic way.

I sold a $30,000,000 umbrella policy today (3 daily drivers, 3 exotics, 2 personal houses, 22 rentals) for $4,400.

Exotic traditional/conventional mortgage is the slowest.And the renovation refinance would ~~BE~~ the rehab.

Exciting stuff, let me share this with you, exotic strategies presented as if they are applicable to any deal, any time, with no or little money........it's the bait we see.And, no surprise, I just now visited your profile, low and behold, you're a coach and author of real estate books........guess I was right.Now, that isn't a bad thing at all, I also see you're a CPA, excellent!  

They buy prop money from Amazon, rent yachts, rent exotic cars, etc.

Just as we are now saying of exotic mortgages (remember, "free cruise at closing") we should return to sustainable debt (can't wait for a discussion on student loan trends in other forum sections).

Lots of people go to Hawaii and other exotic destinations to "research real estate investment".