How on earth did you survive in the business for 20+ years with that attitude?

Your creative energy is replaced with a survival instinct.

Look into Leigh Robinson's Landlording, andJeffrey Taylor's Survival Guide, andMike Butler's Landlording on Autpilot.Check amazon and your local library.

If you are lucky, you may even have a little more, because the 50% expense number averages in excessive damage done by tenants, lawsuits, evictions, etc, which may not happen right away (although they can have a BIG impact when they do occur).The bottom line is that you'll survive this mistake, you just need to learn to do it right in the future.

I have survived phase 1 :D I got my offer accepted for a nice duplex in the Dallas area that acctually has a +C/F.

I understand as a wholesaler that my relationship with the select few investors that will survive the slow times may well become my only customers.

Make a mistake or two with your first SFH and you can survive.

-MMPS I'll post a recap of my experience once it's over (provided I survive it of course :D )

An element of it comes down to the appraiser's desire to survive in business.

The number one reason they fail is that they don't have sufficient cash flow for their business to survive.