I guess I'll do as you suggested and go sit in at a few sheriff sales before I actually bid because I dont want to take a gamble on a dud property.

You can see similar economics at top law firms, where associates work 80 or more hours per week for several years for the 10% chance of making partner with a 7-figure income.It appears as if some people have a natural tendency to gamble and these are the ones who decide to start businesses.

I noticed you are in California.Many investors are not purchasing there that live there.They are looking at Florida,Georgia,etc. where you can buy multiple properties cheap that cash flow well.California tends to be more of a speculative market where the markets can swing wildly and many take a gamble on appreciation.You just need to define what you want your plan to be.About what range do you have to put down??

The only life insurance I would view as a good investment is offshore private placement life insurance (PPLI).The cost of insurance in a regular whole life destroys the policy value over time, plus your investment options are not very good.You are limited to what the insurance company sells, which rarely can even match the overall market.PPLI's give you huge amounts of freedom allowing you to invest in anything (except for US real estate, unfortunately).You can even buy your own company shares, offshore real estate, equities, bonds, or even cattle if you wish.No capital gains tax, no income tax, and no estate tax if properly structured.

investment in the stock market which is akin to gambling IMHO, buying a business which comes with its own set of issues...or real estate...and of course...working for someone else...i have a finance background...tried the stock market..got burnt...looked at many businesses/franchises to buy...nothing made the cut....plus it was overwhelming to buy a business...i also have a full time job in San Fran for a large large company and i hate the thought of going to work.. and now tht i have my properties i deal with one property manager...who deals with tenants etc...i love the independence and cannot wait for a few years before i can afford to quit my job...i think it is the prospect of being financially free that gives me an added rush...

I know that I would be scrambling to find all the evidence I could find for any gambling losses that I had.

Putting your hard earned money into something that you don't completely understand is gambling and definitely a recipe for disaster.

So Google avoided those taxes by using offshore accounts?

Don't gamble with what you can't lose.

Are we just gambling with the EMD hoping we can find a cash end buyer (investor) and close on the property within a week or two??