I've not independently verified this, but I've heard no currency has survived for more than 200 years once they go fractional reserve.

I did not achieve financial independence through real estate but will answer the questions about what I do and where I am going.I spent a career in the Air Force and invested in stocks.

I saw too many families like this growing up, so real estate investing made sense to me as the key to financial independence and freedom.I look forward to networking!

Most states don't require a commercial mortgage broker to have a mortgage broker's license to negotiate commercial mortgage loans in their states.My suggestion is to find a commercial brokerage office and become an independent agent to gain experience.

So your $6k out of pocket gets you a C Corp and ability to use retirement funds to buy stock in your C Corp.The things I did not consider:- You are an employee of your C Corp, so if you hire any employees you need to extend many of the same benefits to them that you receive, including participation in retirement plan- If you hire employees you need to offer them the option to also use their existing retirement funds to purchase equity in your business- Possible advantage of LLC over the C Corp- Once you sign and speak with your assigned independent counsel they will advise you on the increased scrutiny you face with IRS, need to keep additional records and document corporate meetings, etc.If I had a more complete understanding in advance I may not have gone this route.

You do not want to be on the board of directors, as they are limited to compensation, you need to be an executive director or an outside consultant or independent landlord/manager.The next stage is putting yourself in as the adminstrator or executive director appointed by the board.

The economy is powerful and business people, while feeling independent, are needing certain economic support.

YOu absolutely need to contact an independent third party to inspect the property and give you a full report .

Some of my thoughts on the topic:http://www.biggerpockets.com/renewsblog/2010/04/14/6-rules-for-managing-your-contractors/http://www.biggerpockets.com/renewsblog/2010/04/07/the-paper-trail-every-rehabber-should-follow/http://www.biggerpockets.com/renewsblog/2010/02/17/whats-in-a-contract-contractors-rehabbing-real-estate/http://www.biggerpockets.com/renewsblog/2010/06/09/better-faster-cheaper/http://www.biggerpockets.com/renewsblog/2010/05/26/are-you-sure-your-independent-contractors-really-are/

I did it because it still would have been a good deal for me...the value of the deal is independent of the asking price in many situations.