As far as your risk level goes, I'd say you're actually being smart and disciplined (not buying anything unless you're making a profit as soon as its bought) which what i believe you NEED to do in order to not only survive in this business, but to thrive.As for my farm area, No, i havent decided that or figured that out yet.

I just can't pass up the chance to build something brand new for the cost of what some of the renovations to pre existing inventory I have acquired needed.I am confident that once I am able to scale, this will be a very lucrative strategy when applied with discipline and forethought.As always, I welcome your input, BP!

Just need to be much more careful and conservative in your selection of deals and it requires more discipline, self motivation, and clear communication.

If you are disciplined, you can build a great portfolio over time.  

I really admire the discipline for wanting to pay the loans off quickly, but fortunately you have the flexibility to do that with traditional home mortgages which typically don't have a prepay penalty.So, I've done 30-year loans on all my rental properties.  

Discipline is the name of the game.  

It's not 2012, you need to be more disciplined and selective that ever before.  

This is a business and you need to be disciplined in your actions.No matter where you live you need to factor in a percentage that goes towards property management, even if you plan to manage it on your own.  

You must be highly self motivated for positions like these, not just in training but on the job, fatigue is not an option and your attention detailed to 110% as you perform.They also require a great deal of focus, you can't be distracted and you are disciplined to remain calm under extraordinary circumstances or in an emergency. 

Both of you should have substantial incomes that will allow you to escape from the hole you have dug for yourself, but it's going to require much more discipline from you and your wife.