They built a pole barn structure, air conditioned it, strung up some lights and trendy decor and host baby showers or weddings almost every weekend. 

The reality is the really rich have coastal properties and they're not going to accept nothing when it's wiped away even if they have hundreds of billions, there'll be recourse.

I live for the views baby!

Considering that it cost about 8% to sell a property, a decline in value of 32% will wipe out the investors equity.  

From what I'm reading the medicare lien will be wiped out after the foreclosure, so I'm wondering if medicare will negotiate with us. 

Build a nest egg so your first investment doesn't wipe you out.

. $300 a month cash flow is not a bad target but when you are dealing with properties of that caliber, one bad tenant or big repair can wipe out years of cash flow. 

At first, you won't be able to offset your W2 income with losses, but it is nice when you sell a property at a profit and all the capital gains are wiped out by losses from other properties.A huge amount of tax savings get unlocked if one of you leaves your W2 job to focus on real estate and you get Real Estate Professional Status (REPS). 

I mean Joe Montana is a very successful Developer same with Steve Young.. and Ronnie Lott has done well in RE also.but I bought a big mansion that was 3/4 done from an NBA star and he was not business savvy at all.. and on top of that had about 7 or 8 baby moma's all with child support judgements against him ..

Tenants can commonly cause this issue by flushing wipes or pouring bacon grease in the drain.