When I changed the vacancy rate the monthly cash flow dropped to around $260.Some other neighborhood highlights:- $87,000 median real Estate price- average rent is $1,000 (rentometer said $750 was the average and I have $800)- 65% of the children in the area live in poverty so this is a low-income area. - the main occupations are manufacturing and labor, sales and service jobs

But you are just using estate planning and LLC's to work in the modern era to fight modern wealth destruction (law suits/judgments, healthcare expenses leading to long term care / incapacity, remarriage after death, death or remarriage of children.) 

@Michael Plaks they are actually great holdings companies and superior to the LLC since it allows for separation of assets under one LLC into individualized children companies.

You will need to be on your toes at all timesYou will run into set backs (often)You will need to evict peopleYou will need to throw families onto the streetYou will make children homelessYou will have your house damagedYou will need to hire a team of highly skilled people to be your eyes and ears on the groundYou will pay a premium for services provided on your real estate portfolioYou will be harshly judged by those outside of the industryYou will need to make decision based on the best interest of your business and not your feelingsWorks out great for some.

Likewise, lead paint isn't a big worry unless (a) it's peeling, or (b) you have a family with children move in.

He has a pretty inspiring story and is doing the CPA thing differently than anyone else I've heard of.  

Hopefully what you’re investing in all our children will come back to you, as you educate yourself on BP and build your portfolio.

Nonetheless, it was a good experience.My dad has really inspired me to start learning about real estate investing, as he had wholesaled a few properties and now has begun buying rental properties and I'd like to help him find and analyze deals.

You will need to be on your toes at all timesYou will run into set backs (often)You will need to evict peopleYou will need to throw families onto the streetYou will make children homelessYou will have your house damagedYou will need to hire a team of highly skilled people to be your eyes and ears on the groundYou will pay a premium for services provided on your real estate portfolioYou will be harshly judged by those outside of the industryYou will need to make decision based on the best interest of your business and not your feelingsWorks out great for some.

Looks like you've had great success over the years, certainly inspiring to someone just starting out.