The book was released in 2018, pre-covid, and I wonder if the RE market has just changed this much or if Michael is just really focused on finding the 1 out of 100 deal that has the high cap rate and is a viable deal.Ideally I'd like to find a community/mentor that can give me some input on the realities and possibilities of the deals in today's market and normalize some of the viewpoints that Michael states in his book. 

Getting distracted and sidetracked is totally normal as you get started in this business.

Its hard to cashflow buying normal deals in 2024, theres almost 0 chance you will cashflow from a turnkey company after real expenses using a manager. 

However, the possibility the former owner or one of the lenders will claim service was improper is one of the reasons title insurers are reluctant to allow a policy to be issued w/o a quit title action being completed first.It's a good idea to ask the title agent for a commitment that will show the requirements for the issuance of a policy w/o exception for other interests.I think almost 100% the mortgages are gone with a properly notice tax sale.. and in most states I work so are the utls. they try to force you to pay them but if you push back and or know they cant try to collect you just need to push the point.. while banks will normally pay tax to protect their interest sometimes they dont  like in this case.. 

I have even seen twice city inspectors walk buildings for other issues that have illegal basement units and as long as unit looks like a legal unit (normal ceiling height and two egresses) they didn't even say anything. 

It appears he does have the benefit of a window unit.If you do fork over the big bucks for central air; don't renew this guys lease when it normally ends and increase the rent for the next tenant as you are now providing central air in your property.Gail

Here in Washington there have been a number of recent changes to the Security Deposit statutes.You will need to know the difference between normal wear and tear as opposed to actual damages. 

Or, will housing costs crash by 50% so we are back to a normal income to price ratio? 

He was going to do the current deal for free on a new piece of land, but I’m willing to pay his half which is 5% of the normal 10% commission down there.  

These normally come in a little lower than a full appraisal, but are faster and cheaper (pro/con).