If the stars align for you , you can take the 1/3rd primary allocation as cash tax free. 

Vacancy is a real expense, some people over list their rentals and miss out on a month or two of income shooting for the stars. 

@Brie Schmidt You're a rock star!

James,You're probably talking about military star card payments.

Just think Pawn Stars or American Pickers.

Granted its regionalized and Granted some rock stars that are VERY good at sales will achieve but the reality is 90% of those who try will not do anything.. no matter what they spend or what they do.. its must simple math.. and my 42 years in the industry owing multiple brokerages etc etc.

FNMA will not even consider your offer unless it is in writing on a star approved contract along with their 12 page or so addendum and proof of funds.

I currently live in Atlanta and I have a 10 year old Son who going to be the Next "NBA Star" !!

I know they are doing that in B ham.. did not know CA....but my B ham guys have  to go to the court house to bid..I assume the same in CA... its just auction using their star power to get the word out.this will increase competition NO doubt big time.. boy I yearn for the good ole days.

Watch out for the interest only loans starting to pop up on MF Financing and DCR star to loosen.The economy is not that great that is why interest rates are not going up in the as fast as the fed would like there is a reason.