I have had one tenant burn out a ceiling fan because it was so dusty that when it was cleaned enough dirt went in the motor to stop it from working.We use Home Depot life time warantee paint so if a tenant puts holes in our walls it's a 25 dollar fee per hole and if it's scratched or dirty they are charged regardless of how old the paint is because it's warranted as long as I own the home and it's not damaged. ( The tenants are told to hang items on the wall with Command strips ) I use them in my own home and they work well.Our laminate floors carry a lifetime warantee as well so if there is wear or damage from not caring for it the tenant is buying a new floor.

Future equity is intangible and many people who are losing their homes have been burned by the very same "strategy" you suggested.Originally posted by Nathan Emmert:Sorry, just trying to figure out what you're doing.

BE must sell property/all assets to pay judgment.Scenario 3:You own BE.BE owns rental property.YOU perform maintenance on rental property.You are negligent in maintenance, which causes furnace to burn rental property.Tenant dies in fire.Possible Result:LawsuitPlaintiff = tenant’s family/estate.Defendant = BEDefendant = You.Liability = You for negligent maintenance.Liability = BE for employing you.Damages = you for wrongful death and personal property damage.Damages = BE for wrongful death and personal property damage.Joint & Several Liability = you both are responsible for paying.BE must sell property to pay damages.

Perhaps it would be more honest to come to this realization and instead enjoy an extended weekend in Vegas burning the money on loose women, high stakes poker and your mind altering substance of choice.

If I could afford or otherwise not place my family in jeopardy I would quit my "job" in a second, to pursue this burning desire to succeed in this biz.

There is a lot of expense maintaining a property these days.If I had that kind of money I would put it to use so she doesn't burn through it fast and spend it.She might be better off just renting somewhere and taking the cash for keys money.Sounds like the husband has let everything go and doesn't care anymore.no legal advice

It sounds like burn outs aren't that worth it in your market.I have done a couple and have found them the same way I found my traditional deals.

I have built a list of about 2000 apt buildings so Its pretty hard to burn through the list.

With the former they will pay for to build a new house if it burns down.

You complain about repairs, you and Tom should then be purchasing retail homes of only brand new ones if you are going to complain when the light bulb burns out.