Other than advice given about cash flow being high, good tenants diverse employment & reserves I would say consider passive investing in mobile home park syndications & to take a portion of reserves & buy precious metals!

Hi Precious,FHA is one of the only options for many first timers with limited down payment capital.

@Ben Smith 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); andNeither may be invested in your own business.

I'll try and keep it short and sweet as I know all of our time is precious..I have a duplex under contract and a closing date set for this Friday. 3-4 Weeks ago a hail storm hit the city. 

You CAN'T rob the person of their possession, you CAN"T coerce them to give it up against their will, you CAN'T willfully deceive them (lie to owner of a gold jewelry that you are an expert in jewelry and that their item is made of cheap metal, and etc.).

I have scoured the site looking for cautionary tales or advice on what risks to avoid and how, and there is precious little.

It seems like everyone is tempted to try that at some point and we all arrive at the same conclusion - totally not worth your most precious ressource, your time.

Many of you reading this were probably unaware that the Fed actually bailed out whole Countries with your precious tax dollars, including Mexico, Scotland, and many, many more.

You're more likely to waste precious time and drain your funds in holding costs than for the average tire-kicker to follow through.

For me, a "build my team" interview is a waste of that precious resource.