(For anyone reading this,  please don't misunderstand my meaning of that...we know there are many who are starting out with much less...and we greatly applaud you for having the courage to move forward with your aspirations...Tammy and I come from very meager backgrounds and it has taken us many years together ((25 yr anniversary this year)) to get to this point...so moving out of that protective nature (finances that is) is actually fairly difficult for us...her especially ...should've been there 3 years ago with that first property...lol) anyway she was glad to here that from someone other than me...so thank you.I will have to look into the types of investing you mentioned...of course I have read about them and have a general idea...but the inside baseball of those types of investing are Greek  to me at this point. 

IMHO, a signed agreement is required in all partnerships even when it is between two close siblings, because it helps prevents misunderstandings.  

You have a very fundamental misunderstand.

Diane - no they did not misunderstand me.

Well not so fast, there is so many limitations and misunderstandings among the inspection process that the investor could be easily blindly buying a lemon with no knowledge at all.I am attaching some pointer of how to get the best out of the inspection and how to have a realistic feel for the property.First: Home inspections are visual in nature, we the inspector don't check underground piping, we dot move stuff, we don't open holes, we make recommendations and comments, but you the investor needs to act upon the information you are obtaining.Second: Learn about the house.

It may be a common recommendation here on BP, but I don't subscribe to it.Don't misunderstand me:  I spend copious amounts of time talking to newbies about their deals, answering their questions and giving general recommendations, opinions (for what it's worth) and connections, either on the phone or at/before a local real estate event.I run a local real estate group called Black Diamond that does not allow selling speakers nor do we sell anything ourselves. 

That is a misunderstanding civilians have about the military.

As far as I can tell, he is misunderstanding how to calculate the actual CapEX for items to be replaced for giving age/condition. 

So there is no misunderstanding, your commentary on the infinite return of 100% financing and a $1 cash flow versus a less leveraged structure generating a $30k per month cash flow is exactly on point.

Do you want to detail your two examples, I am interetered and perhaps am simply misunderstanding the posts.