They were able to stay in it because their pockets were deep enough to sustain them for years, not just a few months.I'm not saying don't get into the game, I'm just saying make sure you find people who have been in the game during the highs and lows of the real estate cycle and mimic what they do.

The bad news is that you'll probably be thrown into the deep end and expected to figure out how to swim on your own while competing against the other 100+ agents trying to do the same. 

As someone starting out, I just wanted to get a take from more experienced rental property investors.I want to present you with two routes that a guy like me is considering to take: 1) save up capital generated from some sort of active income (a job or side hustle) and then get my feet wet by investing in a lower class, lower capital intensive area/property OR 2) find a willing partner with money they are willing to invest with me and use their cash as leverage for something like the down payment or any repairs that needs to be made.From my current perspective, Option 1 will take more time, but provides me a little more security in the sense that I'm not putting anyone else's money at risk nor am I diving into the deep end of a higher end market (in my case, Southern California).

The lot that I am offering is 50 ft wide and 80 ft deep it has a solid pole barn awning and no city restrictions.

(I recently moved to Maine and have not done the deep dive on wholesaling here yet).As I understand it, almost every state has the same kind of laws. 

We added a kitchenette in the basement to take the heat off the one main floor kitchen, and a deep freezer out back.

Shortly after the road was completed, my property with a finished basement that was used as legal bedrooms flooded 3 inches deep, 3 times during very heavy rain falls in one summer. 

The answer is...this should be the result of a deep conversation between you and your attorney and tax professional.I see way too many people set up a structure that adds $1,000 in annual compliance costs and administrative overhead when they only have $100k worth of rental real estate. 

Hmm, you troll and jest but deep down I think most Millennial's think this way!

Waldo K First off, congratulations on taking the plunge and especially for jumping in to the deep end of the pool with 6 units!