If you can not save any money in 2 years you will fall into the trap of what a lot of people here and on tv will tell you about no money.

I'm naturally a risk taker, so I don't feel I would be trapped in fear of failureTo name some areas where I need the help of others would be:1.

Just ways to minimize risk and improve the chances for ROI.For example, for every 10 people saying "no way" to Detroit, there are probably another four or five making money from select neighborhoods in Detroit.Don't fall into the trap of connecting with people that share your same viewpoint --like the listeners of Fox News and MSNBC News.Read, listen and familiarize yourself with all sides of an issue and then make your best educated guess.

If you want to speak to the best professional, in my opinion, in the area about using trapped equity to finance the purchase of additional rental property, I would contact Joe Massey at Castle and Cooke Mortgage in Denver.Until you do that look at this simple example of how using that equity can help you build wealth:Hypothetical Situation AnalysisCurrent home purchased 10 years ago for $500,000 with 20% down.Current Property Value $800,000Original loan amount $400,000 Interest rate 5%Total Monthly payment, excluding escrows$2,147Current Loan Amount $325,000Equity ($800,000 - $325,000) $475,000If you were to refinance your home at its current value with a 30-year fixed rate mortgage, two things would happen.

Or is this an impending inspection and fee trap as the underwriter suggested? 

I got caught in that trap when I first started.

Great i say, but i don't know anything about it, but i've seen on my Linkedin feed a free seminar on property investing, lets go along.On the way there, i'm briefing my son on the tricks and traps that unscrupulous providers use to hook you in, and feeling quite smug that, that wouldn't happen to me.So i'm in the seminar, and the usual 'suspects' of entrapment begin... but as the evening unfolds, i watch my son, go from enthusiastic to 'damn i really want to do this dad'.

My appreciation was 79.4% (365,000 / $203,500) in 3-1/2 years.Soooo - Be careful of the traps that prevent you from building your wealth - big houses, cars, vacations, toys....credit cards!

The truth is, as an informed investor one needs to be able to make their own decisions based upon valid and sensible information.I especially love how there is an avertisement for a book called "the housing trap" at the bottom.

There were some sections of subfloor cut out in several areas so I never felt trapped.. not sure I would have handled it well without that