If the local market corrects or you need to dump quick you will be overleveraged with no principal pay down.How much extra cash flow are you getting with the interest only loans per month per property??

Is there any truth to her claim of saying she paid for a new furnance?

Look for the "truth in renting guide" online.

Very interesting...Never thought of overseeing others projects for extra income.That's a great idea.

I have been considering getting into real estate investments for some time now as I live in Houston and the population has exploded in recent years.I will have a bit of extra cash later this year which I would like put to good use (10-20k roughly).

A quick cheat-sheet:RESPA (Real Estate Settlement Procedures Act) Only affects loans secured by 1-4 family residences, BUT you have to know the purpose.1-4 family residence loan for consumer purposes - covered by RESPA1-4 family residence loan for non-consumer purposes - not coveredTILA (Truth in Lending Act) (the good-old APR)Again you HAVE to know the purpose.

Due to my calculations he is paying an extra $60 a month for the irrigation the most, and being in South Florida there is hardly a need for watering in the summer.

Plus, who is to say some dishonest agent would not lie about the highest offer to get a little extra commission?

What I'm asking though, is how much excess do you require before you say "I'm doing good, I can take this extra money out and put it into an additional savings/investment account"?

Might need to add some extra footage for the right feel on the master bedroom/bath combo.