Your $30k should be your emergency fund and not used for new investments at this time.Consider talking to a CPA or financial advisor.

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

It was bought in 2004 and due to financial issues, I believe ~$197k is still owed on the mortgage.

You could, for the purposes of verifying that you are not renting to someone who is potentially dangerous or financially incapable of shouldering the burden of being a roommate, ask them to apply through Zillow so that you can see their background check, that also gives you the opportunity to have others who might be interested in being your roommate as well, apply.

Usually, the confidence comes from more reps (seeing more homes and being more of an asset hunter not a spreadsheet warrior) and going to local meetups so you can meet all the other people nearby who are doing what you can't get yourself to do.Ok Elizabeth, Ready for it? 

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Starting out in Section 8 housing may be a rewarding experience both financially and socially.Good luck!

Mulit family assets likely will preform better than single family in this case because of rent ceilings, but in my market, finding a solid MF deal with enough equity is very cahllenging.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

I doubt many are going into credit card debt or if they are that's kind of crazy.. as this part of real estate has no smoke and mirrors generally.And I suspect because most of these folks are doing some sort of PPM and need to deal with accredited investors.. that separates those wanting to start to those who have already had some financial win's or experience and just looking for a new avenue..