Forgot to mention one more book: The Millionaire Next Door.This book is inspirational as it really helps to reinforce the notion that getting rich is not based on luck, intelligence, formal education, or inheritance (e.g., the genetic lottery).

And if you buy a multi with tenants in place they will count that rent income (75% of it, anyway) when they calculate your loan, so you might come out ahead there as well, since (in the case of a fourplex) they'd be using 75% of the total rents instead of 75% of the rent from the three tenant occupied units.Don't buy into that "deduct the interest" notion without really looking at the specifics of your tax situation - the huge majority of first time homebuyers never see that deduction because they end up taking the standard deduction anyway (especially with interest rates so low).

So with that in mind, they are often not familiar with NOI and cap rates, but are very familiar with the simple notion of "sales comps."

yes, quite right. the notion that banks all the time profit is not an accurate statement. these things can only lead to a bigger disaster.

To figure out how ridiculous a notion it is to want to make the kind of passive income or what it would take to do it anyway.

@Brian Badolato, I tend to agree with the notion that cold calling is dying.

I’m planing to opt for a conventional loan, unless I find a better deal to finance the property.Currently I’m constantly checking out deals in Zillow and other websites to have a notion on the zones prices and monthly rent that I could charge.Thanks for your advices and believe me that I am enjoying every single moment of my adventure Thanks !!

The notion that your personal residence is not an asset is wrong.

My assumption is it will be like credit releases, those who know it's bad will just not bring it back, and word of this "Program" will spread, and most will drop the whole notion and move on.

A slightly naive notion, I admit, but somehow it kept me going and ultimately I did get what I wanted.To widen my search I also contacted private sellers and scoured the internet MLS sites.