From what I have read though if you employ solar and wind power generators then you are pretty much set, because if its not sunny then its likely stormy which means more wind :)Basically the civilization systems include everything you need to live a civilized life on an island, are completely self sufficient (you could remove the generator if you didn't mind the occasional black out), and again not as expensive as one would think, especially with the "go green" attitude really coming into play now a days, you may even start to see these kinds of systems becoming available to the rural population, and as economics dictates, the more widely available something becomes, the lower the price tends to be.Just thought I would throw what I know about islands out there for everyone.

Do I even need to go into what happens the vast majority of times when the 2nd and 3rd generation receive money earned by the 1st generation?

The vast majority of newbies fail in this business and a newbie has little chance of succeeding with such a large project.

The truth is that the vast majority of newbies in the rental property business fail in a relatively short period of time.

I look forward to seeing your many future contributions to the site and its members with your vast background!

When you use contingencies do you use several, or is one typically sufficient?

So I guess that my plan is to put bids on properties as if I'm going to hold them to the river (i.e. make sure that they're positive cash flow after paying everybody that needs paying / generate sufficient IRRs), but to the extent that I can, I'd like to flip them for a quick profit.

Possibly or even probably, but that is not the point to my post.Simple as this really: Those who have the determination and brain power will apply what they have learned in the real world while a VAST majority will not.

While I certainly agree that housing prices have generally gone up over time, the vast majority of new landlords pay too much for their property; can't afford the negative cash flow; lose a bunch of money; and are forced out of business.

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