Looks like it's time to begin stockpiling on oil, gold, and the all mighty euro.

If you favor smaller government, stockpile food, talk about a One World Government, or study end-times prophecy, you are considered a terrorist.

i'm a young full time investor as well, and own apartment buildings, rental houses, sell houses on owner terms, lend small amonts money, and flip houses...it's very difficult to start a career in renting properties, unless you own several...if you learn about the 50% rule on these forums, you'll see that a good goal is to earn about 100 bucks per property per month with a mortgage.....once you know how much you want to make, you'll know how many apartments/houses you'll need to meet these goals..i make most of my money on my flips, and take that money and use it to buy aparments and rental houses...the apartments are a full time job (partly bc i dont' trust property managers), but also bc there's always something that needs to be done...it isn't as easy as collecting rent on the 1st and never hearing from your tenants again...then again, flips require a lot of attentino as well...leave a rehab up to a general contractor, and you'll be over budge, over schedule, and still have an unfinished house...these are my experiences...others may be different....if you have a stockpile of cash, have you considered parterning with somebody that has experience??

If his entire net worth is only 28k I would say he is not ready for rentals and needs to stockpile more cash but I run into folks all the time that insist and like many say here the hardest part is starting.

The best bet is a short sale, assuming He qualifies......can't currently afford the mortgage, and doesn't have a bunch of stockpiled cash/assets.  

I'm starting a cash-out refinance of a 4-plex very soon to help stockpile cash for my next move. 

Build that bunker, stockpile those guns!!

Or is there a reason to set aside funds in perpetuity, regardless of how much one has stockpiled?

It's fun dinner table talk :)My fall back plan at the moment is to acquire the property for cost of the note, get whatever insurance I can on it, perform stabilizing maintenance, and stockpile cash until I can make it work. 

You have no idea of the number of margarine containers with lids I have seen stockpiled in my lifetime.