This as my attorney calls the "Rolex Rule", this is when the tenant claims they had thousands of dollars in jewelry in the property and you cleaned it out and did not have legal possession (not sure what that definition or process is in your area) and now they come after you for this amazing expensive jewelry that is now gone.

Hint: They were not heavily leveraged and had a rapid exit strategy from their leveraged positions.Consider precious metals.

I don't have to rent to what I call 'professional tenants', there are no evictions, and rent is almost guaranteed by the parents because they want their precious to have a house.I came to join BP because the RE development company I am currently employed by is terminating the 401k plan and I am taking control of my 401k funds through a solo401k.

Self-directed individual retirement accounts are good ways to save for retirement with assets such as real estate or precious metals.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company  (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2015; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

I put ads in Craigslist and other online sites stating cash for old jewelry, watches, etc.2.

That and a healthy commodities/precious metals portfolio (yes i've taken quite a beating over the last 6 months).Also on the recent Cyprus situation.

Hi @Precious Thompson2 relatively simple starting points:-- Find local REIA meetings and start networking with people there-- Use the BP local search (under Network-->Find Members) to find people near to you, reach out to them, but them a meal so you can pick their brain, and try to find some way you can help them out while learning more from them.

Life is so precious.

In the early growth stages it makes more sense to channel precious limited resources to your real estate.