They are basically mutts that have those unique features of muscular body and boxy head.

Currently we have about $120k in W2 income to report, though at second purchase we'll likely be down to $65k.My initial thought was to get a 15 yr mortgage with 20% down for the duplex, but then was left scratching my head about coming up with money to put down for the second purchase.

I didn't convey what was in my head well.My thought was more of why look at getting conventional loan after setting up seller and private financing.

I could see the potential of saving significant dollars in doing so but could also see risks associated with this approach.

My standards are dropping so low, I could get myself in over my head.

Jeff--The head of one of the Sacramento REIAs went to the same seminar and blasted out afterwards how completely disgusted he was by it!

If you are living in it you need to allocate the expenses to the rental vs yourself and the Maintenance that is on the house associated with the rental needs to be subtracted from the profit you list.

Your investment partnership will require you to conform to federal and local SEC regulations which may just be a few documents if they are a friend or business associate.

There's probably going to be more than one time you start something and find out youre over your head and need to call a pro to finish and theres nothing wrong with that, watch what they do and try and learn something from it.

All of this to say is you never know what's truly going on with it just hang in there and keep your head to the grindstone and just wait it out and see.