Instead of finding a job, the tenant cashed his grandmother's bonds and goes out to casinos and strip clubs every weekend, he verbally told me this.

well I have found that it depends on what your GOALS  are and how much TIME you have.My wife and I are currently living in a duplex we purchased and it has been such a fun project for us.

I even went with 2 private REIT's with small positions just for fun.

So this means if you're buying a 3-4 unit property and you're trying to be the non owner occupant coborrower and have your partner "live," at the property then you'll be limited to 75% LTV (AKA means you gotta bring in 25% down or the difference).FHA had too much fun with straw buyers doing this in the past so they came up with this rule to protect themselves against this issue. 

It's fun and rewarding and worth skipping a nap for.

@Anson Giden You forgot to mention the Casino as an employer in Shelbyville!

Really fun to do.

My niece told me that most of the time it was fun and she enjoyed meeting new people and what not. 

The new ~660 acres of land picked up by 4-5 big developers in Super North Vegas is like a good HOUR from civilization (aka strip / airport / DTS / any respectable casino...)I just can't imagine the current condos and townhomes out here someday being worth $400k/$600k+ like the major cities out there.

(and I'm a huge Rich Dad fan, so I am not just disagreeing with him for fun.