But because they are tax free and flexible and work great with real estate, I like them better than IRAs and 401ks.

At that point in time, you have some level of flexibility when you are dealing with the borrower.

Need 80k to stop foreclosure 100k seller will be very flexible. $3800 a month mortgage payments total.

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

I would walk the property and see how flexible he is or if he would remove the 3 bad ones as part of the deal.

I'd recommend paying down as much debt as you can as it's a guaranteed return and gives you flexibility once the payments are gone. 

With that being said, you have to have a flexible schedule to pull this off.

With a MTM, it gives me so much more flexibility in potentially giving a 30-Day Notice to adjust rents, add/subtract lease terms, and/or weed out problem tenants.

Fortunately, if you use 3/4 primed fingerjoint boards up the cut line, and then cap molding, the flexible cap molding covers up a lot of error.