With the finite time I have in my life and knowing the truth that no matter how rich one is, they are constantly heading towards the ultimate end; I consider it a privilege to be able to wake up in the morning irrespective of how much money I make or not make. 

This is ALSO an After Tax Return of about 10% thanks to the beauty of compound interest......................................But, what the first scenario does NOT take into consideration is that rents RISE over that 30 years.

----I know al this because I'm self employed in marketing (not RE), but the compound power of time is there across every industry and career.

Compounded Inflation will reduce the amount you owe and pay in real dollars. 

Training will tell it what IS a threat and what is not.My pit bull is one of the best dogs that I have had the privilege of being owned by.

It would usually be required to file annual reports with the state and maybe pay an annual fee for the privilege of doing business there. 

The rental income will compound and you will be on your way to larger properties.

Amazing what compound interest can do, eh?

But taking the powerful compound interest effect (which btw doesn’t come with REI) into account, the annual returns are actually much higher.

The statutory definition of securities is as follows:The term “security” means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security”, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.