i dont think this sounds like a bad investment at all. i havent read about the 50% rule but i am very new like you are. i currently own 2 rental properties in nj and am doing very well with them. in your case, assuming the 3rd is rented as well, there is a lot of extra money on the table. one thing to consider though is if the current tenants are paying $500 a month it might be hard to raise their rents to $650 or $700 without them getting mad at "the new owner". if in your opinion these units are easily rentable then i wouldnt worry about it, but if it is tough to find renters, i would think twice about it.

But it's the lender allowing the substitution, not the borrower in the driver's seat switching collateral for a lender.

Regardless of what he owes on it you should have mad a more realistic offer.

Should the mentor refuse to answer a question or explain the "method behind the madness", the "student" should walk

I would have the Ohio lien release forms filled out ready to be signed in my coat, a notary lined up to verify his driver license (your lender has a gal who will wait in her car at 6:30 AM for $125).

Not that I'd knock the idea of starting with a 40-unit apartment building if that's your desire but I wouldn't be in a mad dash to get to 40 units in the hopes that it somehow changes the PM dynamics.  

Hire a driver to view properties for you and send you photos.3.

Besides you need to have more than one avenue to secure leads both online and off so I'm not mad at CL one bit.

If not your buyers broker will need to find off market sellers before the competition finds out.Cali is mainly appreciation so everyone is jumping on the speculation bandwagon again. 2 main drivers move the human spirit 1.

I would say you can't really be mad at her.