No one can mitigate all risk, but I would rather have a chance at being wealthy earlier in life using debt (its what the FED does, and no matter what you think about it, or how you think it is going to end, if they flame out, I could care less if you own you property free and clear we are all in deep doo doo).If you use debt to no more than 70-75% LTV, in todays market, we could still have a correction and you would have an equity cushion.

I don't think you can manage properties for others without a real estate license or property management company in Washington, something you may want to investigate before you get too deep with your sister.

Completely Understand Your Local Target MarketThe old saying, walk a mile in their shoes, fully applies.Live and breath their lifestyle and expectations.

A lease-option is not really an exit strategy if your lender is breathing down your neck.

I ran across this site after listening to the podcast and have to say this is a breath of fresh air!

Take a breath and spend a moment and write the actual chain of ownership of the mortgage down, line by line.

You can make a second putting you underwater but I'd suggest you not go very deep.

This tenant's reactions are completely crazy and off the deep end.

(Then, take a deep breath and cool down.)Someone should be paid for this.

Well since I’ve been in deep thought on putting rentals in LLCs and asset protection past few days on Ali’s blog (thanks Ali) I would propose the first thing to do would be to identify and rectify any mechanical or electrical hazard issues.