My desire is to slowly build wealth through building a track record of credibility with the best players in the market (Be they investors, financiers, Lawyers, CPAs, etc.).I would like to hear from more seasoned investors on the importance of building a network for the long-term.

Quick lesson on Band of Investment Cap Rate:LTV x Interest rate = Debt Cost+Equity x Equity Yield Desired = Equity ReturnDerived Cap RateExample:(80%LTV) x (4.0% Interest Rate) =            3.20%+ (plus)(20%equity) x (10% Desired Yield) =         2.00%Cap rate need to achieve above =             5.20%Hope that helps.

This site is a gold mine to get you where your heart desires in RE.

Take your estimated ARV, subtract purchase price, fixed costs (buyer closing costs and points, holding costs, seller closing costs, real estate agent commissions), rehab costs, and desired profit.

But I appreciate what was said about not  borrowing from the 401k.I may let this ride a bit longer until I have all the debt paid off, or he comes back to me again with more desire to unload.

The reality is that in this day and age there is no way to prevent tenants from finding out all the information they desire about owners/landlords.You should always introduce yourself to new tenants as the owner by name.

You can pull a list from listsource of all of the duplexes in a specific zip code and narrow them down by equity % and any other criteria you desire I.e absentee NOD market value etc. then reach out to the owners.

Many of the downtown areas of these cities have the historic buildings and walkable neighborhoods that more people are finding desirable today.

But wrapped in a mystical cloak they became attractive to the uneducated investor with cash but no desire for due diligence.There's actually nothing wrong with the tic structure.

I am usually never at home so i gotta type everything on the phone, otherwise i would more easily be able to get into more detail.now the amount we pay the manager is not very much at all, but that is ok because the manager gets a huge perk: they get to live in the manager's quarters which pretty much all motels in the united states have. the managers quarters is connected to the front office and consists of a 2 bedroom, 1 bathroom apartment with an adequate spacious kitchen and spacious living room. an older couple who is retired, about to collect social security checks possibly, and has a minimal and quiet social life is most desired for this position. they get to live rent-free and utilities-free, and i get a manager for minimal expense. its a win win situation and i often become good friends with them. most managers only stick around for 1-2 years, but some are willing to basically stay for decades even.the motel business is a seasonal business, but not an extreme one. typically around march-may, business slows down an observable amount, and after that it picks right back up to 90-100% occupancy on every night. several nights a year, we have to turn away guests at nighttime because we have no rooms left to sell.the budget motel is a peculiar business, but then again its really not. your average person might struggle to understand how this business requires a decent amount of hard work, yet is simultaneously one of the most laidback businesses you can get into.we remain super competitive, to the point where its not even competitive anymore for us. the reason why is because i have placed a 40 inch tv in every room, along with a full sized refrigerator and a real kitchenette. for $190 total per week and free housekeeping and wifi, who wouldnt want to stay there vs. renting at an apartment that requires all sorts of documentation and an application fee?