I'd like to hear some philosophy and what are some of your general rules when dealing with land that has so much potential and the cash flow to help save.

I'm a believer in Gary Keller's philosophy in his book The One Thing.

In my work in progress blog/website I will have my philosophy, business plan, information about my niche.

But I am of the philosophy that if what you have does what you need, then don't upgrade just because there is something new.

My philosophy has always been to make it as easy as possible for tenants to pay.

Depending on how you are using the cashflow from the properties, you may want to be less concentrated by spreading your investments over more properties and geographies giving you a broader exposure and limiting the chances of rent interruptions placing strain on cashflow giving spillover effects to however that cashflow is being utilized.Considering the external factors which we'll never be able to control - macro economic trends, regulatory, taxation, etc vs the internal factors - budgeting for r&m, capex, ensuring quality tenants, etc - my personal philosophy is to be more diversified through lower value assets which have less marginal impact when one gets rent interrupted rather than concentrate on assets with higher valuations but give potentially more external factor risk.

The biggest issue I see with the philosophy of always making sure the tenant is "happy" is that the list will get longer and longer.....it will start small and before you know it, you will be catering to every little issue they want to bring up because you made them "happy" the last time they asked for some concession etc...so why not keep askingIn many ways it's like being a parent..... you have to be able to say NO....or you will have a spoiled, entitled kid on you hands.

Garrett, bad debt consists of two vehicles, two student loans, and a credit card.Credit card is interest free for another 6 months.Other rates range from 1.5 to 6.8%I know the debt snowball is Dave Ramsey's philosophy, pay off every last bit of debt before doing anything else.

If you subscribe to the Rich Dad philosophy, as do I, then they are the firm you want.  

My philosophy is the reverse of this other person.