Retail can be passive when you buy right the most common misconception I see with buyers is that you can buy anything retail and it will be passive.

That is one of the biggest misconceptions about life insurance.

You still need all the stuff you would for a larger house, there is a common misconception that this size house will be cheap to build. 

I'm not trying to talk you out of this but I would point out two things, the real estate industry is fundamentally flawed and runs mainly on myths and misconceptions within the ranks of the agents/brokers.Yet it is lucrative if you are skilled or skillfully guided but is a good place to get used if you don't have some reliable info.The bulk of the people in it allows themselves to be lead by those above them and the leadership is entirely wrongheaded about things.Have you noticed how bad things are?

I would never place too much reliance on a HELOC for reserves (They are better used for new acquisitions than reserves).Sorry I am so wordy but this is an issue that has a ton of misconceptions.

Honesty and straightforwardness go a long way toward clearing up misconceptions, which ultimately help you close the deal.Call for ActionGive the seller a reason to close the deal with you.

I sus pect Allan already knows EVERYTHING we are all telling him......redfin is the garage sale that "charges you nothing" (A big misconception)....gives you instant cash on the spot for your property.....in a Seller's market.....only to find out that had you had a local realtor market the property and you had waited another weak you probably could have got about 40-50% more.

There seems to be a common misconception that putting REIs into one or more LLCs will protect the personal owner from being sued.

Had a funny feeling that there was some connection with the other one or I could be wrong.I think there is a misconception with certain tenants that providing a somewhat larger rent/deposit will guarantee a rental.

I'm really surprised at the misconceptions I see on BP when it comes to LLC's, which makes me MORE than thankful we are Platinum members with Anderson Business Advisors!!