-PatrickA high yield savings account has a number of advantages.

My accountant was lazy, not well informed and provided bad advice.

When I purchased the property, it had the basement with tenants but the rental income wasnt taken into account and it was just considered a two flat, as it had two units in addition to the basement.

That would be around $90,000 sitting in a savings account!

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

This way you still have 50k in your account and you have $200 coming in every month for 10 years, then 1600/mo for the following 20 years.OR you can lend me the money for 7 to 10 years at 9% and I can do the same as above!!

Mike,Take a look at the penalties for making an honest mistake with a retirement account. 

A fake and basically empty Facebook account (with a hotmail email attached to it) was planted to give itself some credability.

Posting goals here on this thread can help to act as a form of accountability. 

I know some people feel like they need to invest in a course to hold themselves accountable or feel like they are doing something.