Duncan,When I am hired to check out a landlord, I get the owner of the property no matter what they are hiding behind, insurance info, liens, who the property is financed with, DOB, SSN, owners address, drivers license info, credit card info, how many loans in the owner's name or business name and date open and monthly payments, type of auto in owner's names, bankruptcy.I only this for lawyers.Joe Gore

tl;drresponding just off the subjectlinemy opinion... if not college go into insurance (house, auto, life) build a nice residual income...then get into real estate.

I did this because the entity, was a large franchisee of Midas and Napa auto part stores so I felt confident that I would get paid if I won money.

You mention no credit cards, no auto loan, no home loan.

You should obey the lease and ask your landlord will it be ok to work on your auto on the property we had a pro tenant a few years back that tried to find loop holes in the lease and sorry to say they are living some place else now.

I work out of Cerritos Auto Square and would like to stay 45minutes to 1 hour away MAXIMUM.I am having literal anxiety trying to decide the best area for a good Investment/Rent ratio, I don't mind living in a rough area.

A Realtor/Escrow Agent/State RE School instructor, that guy has an incredible ego.They also left out the appraisal requirements at the seller's expense as Curt mentioned..I suppose every time some RE type mentions this stuff people need to look at their expertise in finance compliance and law, then look to the agenda of that party giving that source of information.Why don't people find out that auto sales and financing is much easier than RE or brokering T-shirts from China to stores can be very profitable with very little cash?

I am just starting out with a 4 family and a 3 family and am targeting to keep the following for EACH property:Operating Account = 2 x monthly mortgage taxes and insurance (MTI)Reserve account = 2 x monthly MTI, plus auto-transfer of 10% of rent collected each monthWhat do you guys think is a good best practice?

For Example a 1200 sq ft 3 bed home with neutral decor will rent for x amount of dollars.After you have figured out the rent and the product you want, factor in the 50% rule and then set the auto MLS search parameters for a low enough price point that it cash flows.

My lease has an auto renew clause, so I am going tom have to give notice, and then renew the new lease with the husband.