I was merely suggesting that some businesses operate at lower margins (different than operating at a loss) and higher volume as part of their business strategy. 

So I tend to think of probate as merely a title problem.

If you are wrong about longterm appreciation rates, you still make money via #2 above, mortgage paydown, and the mere fact that your 30 year fixed mortgage payment stays the same while rents go up with inflation (or possibly more).4)Driving a bit outside of the city limits up to an hour or so (but still commute distance) you can often find places where the cashflow is better, but appreciation won't likely be as good or as steady.

What frustrates me re threads on NPNs in 2015 was too much guru talk:  buy an NPN at 20% of outstanding balance, mail off to the (not paying) owner an off the cuff work out (30% off the payment, 30% off the principal) poof they sign and mail back all is well.  

The depreciation taken on your relinquished property merely becomes part of the calculation of your new adjusted cost basis in the new property.

(Note: Rishel Consulting Group does advocate a program it teaches to both community owners and depositories that would meet the burden of "closely tied" as defined by the courts.)The Court rejected the Defendants’ attempt to characterize this case as one about mere disagreement about a law.

The existing precedent in Kentucky indicates that the mere construction of gates by the servient estate does not violate the dominant estate owner's easement rights.

This is not merely because of inflation but because of lifestyle inflation.

Success is merely the systematic acquisition of skills" - Unknown Here is a link to The Red Road to Real Estate Part 1 in case you missed it.https://www.biggerpockets.com/forums/522/topics/471483-the-red-road-to-real-estate-part-1

That equates to a mere 3.5 homes to get your 35k figure.