This is a great place to learn and to connect with people so take advantage of all the great resources.

Some clients love the numbers and others are not numbers people.

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria. 

One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

Then, after I had experience and several wins, people were willing to partner with me on deals, or lend to me in second position for a short period of time to help with the down payment and with repairs and then I would pay them back when I would refinance.

Hello BP community,It's nice to see so many discussions from like minded people!

First of all, let me pay my respects to the hardworking people in real estate and the treacherous waters they navigate—fronting hours of effort with only the chance of commissions and an abundance of non-forthright people out there.

I've heard horror stories that it's usually impossible due to the "burden placed on the municipality" but could really never understand what that burden was... most people living in those units wouldn't be using the school systems so aside from maybe an increased volume in emergency medical situations I can not understand that statement? 

And while a 1031 exchange isn’t an option, some people explore alternatives like installment sales to spread out taxes or even tweaking the investment structure so your returns are treated as interest instead of equity.There are definitely some creative strategies out there. 

Are there any local meet ups or websites on where to find more people who have a moderate level of experience meaning they are  somewhat experienced but still looking to collaborate and network with more inexperienced investors like myself.