Always good to scan CL rental ads for that area as well.And yes, it's a great idea to always purchase/rehab rental property with 20% equity if possible (created through some combination of motivated seller, distressed property, and/or rehab).

So I think the focus should be on solidifying my retirement and real estate portfolio and preparing for the day that my "day job" is no more.The only way that I will pay off my current debt at the cost of postponing investing is that when the pay off for doing so will catapult me into an investment and earnings rate that will far exceed putting the debt aside for now.So my question remains, does forfeiting investment spending today to pay down personal debt help me to achieve my goal slower or faster than keeping the debt and putting all of my current disposable income into investments?

@j JohnsonMy motive for our vacation rental is purely for leisure than profit.We always wanted a lake home.

The money is nice but not the only motivator in the equation.

We want to begin marketing to a specific area to find motivated sellers.

He has an empty acre and a half lot in a high end neighborhood. 800k+ He seems extremely motivated.

My personal opinion is that rates will remain artificially low for another couple of years.

Marc Faulkner just wondering about the original poster's question -- is there an "industry guideline/standard" or convention that a note buyer would buy only a certain % of the note's remaining principal balance -- for example, only buying 70% of the principal balance, or does this also depend on the scenario?

The interpretation of "a" late fee has been "one", not "multiple", fees so the $5/day does not work for us.I typically I serve a written notice on the 2nd with a warning that a late fee shall be applied if any rent remains outstanding as of the 4th {for first time, or rare, offenders}.

And everyone is so positive and motivating which helps so much.