But I think we all agree that it's easy to get burned in these midwest markets that are attractively priced.

Now, when I go and cycle for 50 miles, I am burning fat and get excited to get on the scale afterward vs looking forward to a Chic-fil-a trip afterward.  

For whatever mix of these factors, the property burned through its cash reserves and has slightly negative cash flow.  

Having burned with few tenants, I am considering to tenant income and asset verification on top of regular background check.

My question that I would like one to consider is this: Should I target a property that slightly cash flows with a 30 year fixed, or buy a home with a better rate 15 year fixed and target fast accumulating equity and a big fat cash flow egg that will be gifted to me in 15 years?

This will be a slow burn project.

You will find that there is plenty of fat.

Purchase price: $65,000 120 acres of wildland surrounded by national forest, in the midst of the Dixie Fire (2021) burn scar.

That was the 3rd or 4th person severely burned and they did nothing to address it. 

Purchase price: $65,000 120 acres of wildland surrounded by national forest, in the midst of the Dixie Fire (2021) burn scar.