I learn by doing, and stumbling, and doing again, and learning to do better with each stumble.I carefully chose this signature I paste into every post:"Success is not a destination.

If they won't rent for more, they'd be negative cash flow.Just my thoughts...David J Dachtera"Success is not a destination.

Charlottesville is our ultimate destination once we settle down.  

I don't have all the numbers, so I'm guessing here.So, yes - a bit of "book l'arnin'" would have been valuable here, and you still could have enjoyed the celebration having been proven right by the deal falling through.My $0.02...David J Dachtera"Success is not a destination.

@Chris Rhyne,So, you're making newbie mistake #1: you think the money to do deals all has to come from you.Learn what private lenders are, then learn how to find them and partner with them.Most of the people in my investing group have none of their own money in any of their deals, and the credit never gets checked.David J Dachtera"Success is not a destination.

A feeling of confidence and power came over the young eagle and it knew instantly that it was not meant to just survive like all the other animals.It was destined to fly and soar above the storms and seek its own world where most fear to go. 

@Jeevs Pothen,Here's what you need to remember about protection from liability / lawsuits: "Control everything, own nothing" - not even the LLC(s).David J Dachtera"Success is not a destination.

@Matt Bowers,Purely my opinion ...I'd borrow out as much equity as I can and put it into another income property.Money that's not working for you is "dead" equity.My $0.02...David J Dachtera"Success is not a destination.

I'm neither.David J Dachtera"Success is not a destination.

The folks in my group are willing to pay 12% to 20% for private funds depending on points and payments.Hope this helps...David J Dachtera"Success is not a destination.