Hey guys, I'd like to get a feeler to see how many RE professionals here came from a different career field.I'm a buy and hold investor for the past few years, for the same amount of time I became an engineer that funds my investments.Lately I've been contemplating my career direction and more importantly, how I envision my life style and what I actually enjoy doing.  

An underlying assumption of most of the posts is one of a "moral" obligation on the part of the individual contemplating filing bankruptcy.

As an example of this...when my parents moved out of their home and into a new one, they contemplated keeping the old house and holding it as a rental. 

@Justin ReyesI’ve contemplated the same.

Licensures would probably take a year or two to get sorted out, but it seems like the best way to maximize our profits from resale, and it would also allow us to basically pay ourselves for our own services, rather than us slaving away at our desk jobs while we pay others to do these things.Lacking an enormous pile of money, we are contemplating asking family members for short-term loans.

I have been contemplating creating an LLC then refinancing my home we both own into the LLC.  

Now this is not realistic If I was running a large company but for a private investor looking to invest in TD's this can be a good way to create long term relationships that are mutually beneficialCheck with the state of WA many of the loans your contemplating do not need a broker or NMLS licensure@Aaron Norris   Just fyi I have recommended your company to many LA investors as an alternative to going half way around the country and trying to buy a cash flow rental.

If I were contemplating a move such as yours, I would ask myself this: what is is that I know that the overwhelming majority of business people far more successful than myself do not know that has me convinced this is a proper course of action?

I am contemplating an investment with a local developer.

Black appliances, small fenced yard, small screened in porch.Im living here until I can rent.Let's talk numbersmortgage - 653/mo = 7836/yrHOA  - 347/mo  = 4164/yrExpenses so far 1000/mo = 12,000/yrIncome - 1500/month = 18,000/yrVacancy = 1 month  (-1500) = 16,500/yrIncome = 16500 - 12000 = 4500/yr = 375/month I don't know what the normal estimation is for repairs, however I wouldn't mind putting all of my 375 into a fund just for repairs (at least for a year or two).The nice thing is that I am going to have a roomate for 3 months who will pay me 500/month.After that I may have a second roomate for almost 700/month :-OComps-2/2 across the street, similar style buildings - 1490/month (on the phone) 1530 on apartments.com2/2 townhouse style apt - down the street - 1475-1500/mo2/2 up street - 1325/mo2/2 modern duplex - 1900/mo Rentometer puts the median price at 1700, and the average over 1800, which I think is falsely highI have contemplated renting this unit furnished however I am not sure if I would be able to increase the rent enough to justify the expenses (But I really don't want to move my furniture hehehehe).I am fairly sure I could rent this unit for 1500/month, possibly even 1600 (1700 with furniture?!?