He had his daughter come to our boot camp at the age of 12 because he knows he can never sell it and wants her to replace him when he gets too old.If you dissect this story, the key items to the detached apartment model are 1) enough scale (number of lots) to make it worthwhile to undertake the concept 2) the ability to self-manage 3) acknowledging that it is an illiquid asset and working around that.If you could find a 30 space mobile home park that is in decent condition but with a bunch of park-owned homes and vacant lots, and you then committed to fixing the existing homes up and renting them, and then bringing in cheap homes you found on Craigslist or through wholesalers to fill the remaining lots -- keeping your capital outlay as low as possible -- and then could rent those homes for $700 per month at 50% expense ratio, that deal could generate $120,000 per year and you could self-manage it and quit your day job and just run the place.

Wasn't aware of company credit concept.

I'll paraphrase: The concept is that at any point in time we feel stronger about what is happening right now and believe it to be the new standard forever. 

Now I do not mean to devalue education, as it has opened my eyes to many concepts and helped me become a lifelong learner, but certain aspects about the process just do not resonate with me. 

The basic concept behind a cap rate is simple --- it's NOI/Sale Price = Cap Rate. 

The concept makes sense, but I have the same question if anyone has experience doing it long term.

If you feel burnt out, it's a sign you are doing too much and need to find a simpler path.As others mentioned, consider building out a team and partnering with a wholesaler if you want to stay in control.

It's simpler that way.

But while 70% of wealthy families will end up losing their wealth by the second generation and 90% will lose it by the third, there are ways to avoid that from happening.The concept of generational wealth is simple: It’s money earned by one generation that is passed on to the next.

The concept of HELOC is new to me but I learnt this can be secondary lien that gives an opportunity to pay off loan quickly.