Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Approx 5 commercial  properties with total combined value book value 12m .. actual maybe 20-25m?

Consider this: there are an estimated 10K homes in Pacific Palisades, at least half of which were destroyed. 25% were constructed during the 60-70's and +/- 75 TOTAL were built in the past FIVE years. 

If it's a deal that is in a very very desirable location and has tons of built in equity and appreciation, I would be totally good with negative cash flow for Y1 and Y2.

So you're not worried about current income...totally understandable, wish I was in the same boat ;-)

I have totally given up on Quickbooks though it remains the best accounting software for the non CPA type 

At the moment with 3 rentals (6 total units), I have one account and a credit card associated with it.

Any unused funds from the engagement fee are typically credited to the borrower at loan closing, reducing your total cash to close.

Totally agree with your approach!

Everything in the article makes total sense...wealth building helps through appreciation and debt paydown over time.It makes sense that chicago suburbs with strong school districts perform the best.