Credit default insurance and a home warranty if your cash flow will allow it will allow a property to survive those stress tests

But ultimately, I learned from my mistakes.

Depends on the ultimate fire sale price though from the bank.

The Ultimate Beginners Guide to Real Estate Investing is another great free eBook to boost your foundational knowledge.Enjoy the journey and feel free to reach out into the forums or send me a PM for more help.

I'm interesting in looking at markets in other cities and would like to get involved in multi-family properties and as I continue to learn begin innovating.The ultimate goal for me, like with many, if not most, others, is to attain financial independence as well as security.I'm super excited to get involved and learn as much as I can within this wonderful community!

Here's my opinion:I'd start with getting a deal structure on paper:1) Agree upfront how much value you assign to his land, and agree that your shared LLC/trust (or whatever you set up) will owe him that amount when you ultimately sell.

My goal with real estate investing is to ultimately be able to provide for my family financially and pass along ten or more rental properties to my son.

I can't tell you how many WILL's I have read that have multiple kids surviving and the property is left to a charity. 

The "market" is the basket of houses that are for sale, and the buyer always ultimately sets the price.

I don't want to mistakenly low ball the rehab because that could ultimately turn my entire deal upside down.