And this is a biggee wading through the fake lenders or the Joker brokers that tell you what you want to hear  but cant get the deals funded and you lose the deal and a lot of money.3. with actual PML  private people  usually have very limited funds so cant scale with them.. they can have a life event and just stop doing loans all together..

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

I have seen these circumstances; people die, go out and buy a car, lose their job, etc… Just my own two cents, I’m not an attorney, just play one on TV

Just to beat a dead horse, we could see a recession in the future where you and/or your spouse lose your jobs.

I feel sorry for the people losing everything in the fires , insurance will go up .But I wish I was the guy  driving this bulldozer ;t=162s

Why would I be cash flow negative and losing money for years and years?"

.: Most people suck at painting. 

Quote from @Dan Mcguire: One reason not to invest, is not to lose money.

What is the point behind having paid off real estate, if you lose it later in life to oppressive taxes?