Work all your life for peanuts and your children immediately sell everything they inherit and live like the rich a famous off your hard work.

@Harsh Patel - So odd that a 6 month old thread suddenly jumps back to life, but if you are still watching and looking for advice, you've received some good points and unfortunately a ton of sales pitches. 

People get interested in real estate then realize there is some work involved and life just gets in the way.

At 80 years old you will probably have life long tenants 

When you do provide it (e.g. applying for loan in your own name), make sure they are a reputable company.Unfortunately identity theft is a real thing and can really screw up your life for year and years once it happens.Oren

70% is just a rule of thumb, you'll probably find it works more in theory than it does in real life.

You have to live in it for 1 year unless something extreme comes up in your life that requires a move (change of job or military relocation).

I think I'm underestimating how much a baby will change my life.

To the good life!

Crashes like the one in 2008 are a once in a life time opportunity.