I listen to Bigger pockets and old capital podcasts Audible is the best part of the entire internet IMO I burn through a few books a month, my life has radically changed since signing up.

However; after only 10 days of owning it, someone decided to burn it down - or atleast half of it.

Their son burned their house and the insurance company moved them into a hotel.

Bought a property for $100kHeld it for a few years, depreciated down to $80kCurrent value $150kIt burned down completely, with no insuranceHow much you can deduct?

I was burned by a company called "Duval Homes" that rented my property to a tenant who did not pay for 4 months and did damage in thousands of dollars, looking for another company.Thanks a lot!

I was burned by a company called Duval Homes that rented my property to a tenant who did not pay 4 months and did damage in thousands of dollars, looking for another company.Thanks!

I self manage most of my SFRs and I don't know multis that well but I know of a lot of investors that have gotten burned in Ogden with druggie tenants, high turnover and expensive maintenance on OLD homes. 

Many lenders are doing periodic occupancy checks and because the property is investment / Rental, if caught committing "Occupancy Fraud" the lender can call the note due, foreclose and the owner is out like the fat kid in 5th grade dodge ball!

However, my current business doesn't pour off enough capital to really be able to get a start there, and I'm getting burned out on it after 11 years. 

You need to make sure you offer with a good amount of lease option money to the seller and be fair with your expectations or the minute they run a ridiculous scenario/ offer by their attorney or realtor, you're out like the fat kid in 5th grade dodge ball!