This is a simplified illustration but the point is its easier and more viable to have a smaller number of paid of homes.

They've saved me a ton of money, and simplify the process. 

His investing advice is very simplified and most people who follow his plan will end up in good financial shape.

Typically just buying into gentrification will do this.Also as you gain more money.....individuals tend to like to simplify.  

Scenario: (simplified) 100K first 80K second 220K Property value Total owed 180K In this scenario the second is going to foreclose and open the bidding at 80K Someone might bid or they might not. either way they recover what is owed to them by walking away with 80,001.00 at auction (your bid) or by taking back the property and selling for 220K (theoretically) If the 1st mortgage was 160K there is not enough equity in the deal for a traditional foreclosure process.

The best position for taxes would be per unit as my unit is actually a little bit bigger and it would very much simplify everything just cutting it in half instead of making it something like 43% of the common expenses being deductible.

Originally posted by Joel Owens:Charles I know you are an accountant so forgive me but the only thing the tax code has going for it is job security for the government.The tax thing is such a headache.I long for the flat tax but will never see it.Pay one percentage and your done.No new tax rules,headaches,old rule changes ,etc.I'm not really sure a flat tax would simplify anything.

I think using a percentage, what ever percentage, is way too simplified to work.

Brandon Turner and he got me thinking about the importance of automation and running things like a business rather than a hobby.I recently bought a key box to help organize my keys (only have one duplex but yet still way too many keys for various doors throughout the property) and am considering landlordlocks to further simplify things.I'm also looking into ways to get electronic rent payments without giving out my banking info.These are just a couple of parts I'm looking at automating and getting better organized with.

To over simplify, I call it the Texas method or the California method.