or as manager managed they have "signature privileges only?

Long Term: By the time I am 46 I would like to be generating $10,000 a month (inflation adjusted) and utilize that money to live on so I can do a job that does not feel like work.Short Term: Each year I would like to compound my profit.

we have to use what is reasonably certain than compound forecast and assumptions exponentially. some may argue that estimating a 3% increase in a rent control environment is excessive but general price increase is at 3% hence that is used for both cities.Also, although 45% expense is estimated for both cities it can also be that expenses are actually higher in LA than Baltimore, so actual expense in Baltimore may be like 35 or 38% which is totally feasible.Well, we let property management worry about managing properties within their allocated budget right?

We didint fire crappy painters soon enough and our GC made a few mistakes on where to put light switches (behind cabinets etc, you would think an experienced GC would know better).Overall we got lucky with some things but we spent some money for the privilege of renovating someone else's house.You will almost certainly lose some money on your first flip (we did).  

People that say it's okay usually don't explain to you the opportunity loss of the compound effect of saving in the stock market.When you take an early withdrawal you are hit with 10% federal tax penalty plus being taxed at your income rate.

@JW Franz  not yet  but I suspect it could be one of those things that does appealed.the main issue with that model is many folks were taking advantage of minorities .. especially non English speaking.. buying homes for 10k for cash and selling them to these folks for 50k on terms. saw a lot of that in Detroit as well.DF sought to curb that activity and to real in price gouging.. just because its OF does NOT mean a buyer should pay more than the house is worth for the privilege. you can sell them all to investors today if you want.

Plug Duct Seal Compound around all my outlet boxes when the walls were open.

I have also had luck skimming with joint compound and just going over it with latex. 

Privilege.

Then it progressed into Cap Rate and some Tax Analysis.The first challenging topics included how to Amortize a Mortgage, understand the difference between a Simple Interest Calculation (such as GRM and Cash on Cash Return) and Compounded Rates of Return (such as Certificate of Deposit Accounts, Appreciation Rates, Annual Rental Increases).When we started economic theory, such as difference between real and nominal prices, inflation, seasonal adjusted prices, case-shiller home price indexes, etc., the concepts really became very difficult to understand.