Brian, I gotta be honest, I went to Church, came home and did nothing!

My late fees are $15 per day, but to be honest I rarely ever charge them.

Hi Ron--it may just be semantics but there's a difference between a private money lender and an investor.

Anything else results in "boot" for which you do not income taxes.This is probably an issue of semantics but your basis would be what you paid for the place adjusted up or down based on capital improvements and depreciation.

A HELOC (or Prime Equity LOC to be semantically correct when it involves a rental as @Chris Martin has pointed out elsewhere) will have its adjustable interest rate pegged to either Treasury or LIBOR.

I'll be honest, I am a little nervous about doing that first sfh deal and I think that's mostly because once I do that it's no longer just talk and numbers ... now i'm in the game and have the responsibilities to sink or swim.

I got the same amount of calls, however I have to be honest, I have not played nearly enough numbers to make it worth my while.what is your response rate when using yellow letters?

Did we not learn from the 2008 crash the importance of honesty?

@Liam I appreciate your honesty.

As you mentioned healthcare is your largest monthly expense and that is precisely why I was so concerned with this issue, so thank you for your honesty and real life experience.