I have read many threads and sincerely value the experience and wisdom of many of you.

Sounds like fun.Jeff Greenberg I agree since RE requires lots of commitment and time if one can enjoy the journey they will be much happier at their destination, whether it be golf or managing 120 houses.

Having a multifamily property makes the strategy a bit easier since rents for each can be 800 and still generate the 4800 profit cash flow (assuming a 2 units).

Sincerely,         Amadeus Hladun

My sincere sympathies to the people who lost money here.

Jim, apologies on delay, but I sincerely appreciate it!

So, best of luck to you (and I say that very sincerely). 

Since real estate is largely local, there will be plenty of markets that don't notice anything and some that keep increasing.2.

I'd thank the 90 year old heir sincerely for his willingness, but tell him you've been told that it just won't work.   

My accountant has taken the position that health insurance premiums for full-time, self-employed real estate investors are not deductible on Schedule E since real estate is not technically considered a business by the IRS.