With that said, I understand your reservations as mine have compounded as well. 

Rabih El-Khoury If you assume 10% CoC:Yearly Capital: $120K * 10 years * 10% / 12 months = $10K per month Reinvestment (Year 2):10% return on the $12,000 per year = $100/monthEven when you compound it I don't see getting close to $24K per month using 10% CoC.

The more cracks created, the less stabile the wall becomes.The wall inspected is bowing about 1 ¼” on the short side with the ledge wall and 1 1/8” on the long side.

Here is a list of what I am wanting thus far in a boat- a nice teak interior that doesn't need sanded or varnished- enough sleeping space for 6, and there are plenty of boats for that- cockpit area that offers plenty of seating- a diesel engine that looks like it is in great shape- a good generator, hefty water maker, a washing machine, a water rinse at bow and stern, a place for diving gear, well I could go on- enough seating inside where everyone can eat without touching elbows too much- this will be a live in boat so it needs to be somewhat comfy- I really like the teak work on say the Hans Christian boats, here is a nice 52 for sale for $245,000.00 which is in my dream budget. 

First thing I look for is the BIG ticket items.How are the windows, roof furnace/AC siding, any signs of water damage if there is a basement is it wet does it have bowed walls, what is the general condition of the electrical system. 

The $300k SFR without compounding would be worth $348k for profit of $48k (compounding likely would have it closer to $50k).  

If you ever get the chance to attend one of his classes do it.  50K will certainly get you at least one maybe two properties and you can compound off of those as your cash flow increases and debt decreases.

(The basement wall was so bowed in I was nervous walking downstairs for fear that it would fall in on me.)

Obviously the largest chunk comes from RE lenders at negotiated rates & the rest from my Private Reserve Strategy.This is a method that allows us to make our down payment/improvement/large repairs in such a way so our cash never stopped compounding interest tax free even tho we have made use of the dollars.

FYI - asbestos drywall joint compound was very common up through the middle 1980s.