Dan, As your real estate learning moves forward you're facing the harsh reality that this can be a tough market for beginners -- and those of us who have been around a whole lot longer -- but the best thing you can do is believe in yourself and not give up on the dream.

The only compelling reason to keep it is to preserve your credit, but the practical reality is your FICO score will be compromised (not destroyed) for at least two years.Face the music on the tax due for phantom income via 1099, square your shoulders and keep investing--this time with more insight gained from this experience.

That $500 is allowed because our lease/rental agreements state they will pay attorney fees required to collect the debt from them.Now, in reality, we give the attorney latitude to settle and as such, we see about 70 to 80 cents on the dollar when everything settles out.

Not logical in reality.

Thus began the REO's facing reality.

Median home prices still need to fall at least 35% to bring them into line with median income, assuming income doesn't fall, given the fact that the lending institutions have been forced by reality to return to sane lending practices.

We need to get this country back to reality and end all the ridiculous promises that we've made but can't afford.

Get all bids in writing – I know you’d like to be able to do business with someone based on a handshake and a smile, but the reality is that memories fade and a good faith agreement can be misinterpreted by you or the contractor.

Those can be expensive.Keep your chin up and take solace on the fact that you took the time to do a reality check and ask for advice instead of letting your pride get in the way.Best of luck!

I know that none of that has been shown on the news but that was the reality of what he saw.