Figuring out the true cost will heavily depend on the type of dig down, depth, and total square footage. 

But is it still true?

I've read at least half of the books published and I don't think that's true at all. 

If you play your cards right, this could be a great way to build equity and add value to the property.

Then hands me her business card, "call me, I can help you." 

If you do decide to do mailer(s), then I would advise you to personalize the card and do a handwritten note. 

This may be controversial, but "true passive income" in my opinion is one thing and one thing only.

A Heloc is an open end mortgage same as a credit card the only benefit is that you only pay on the amount you borrow.

Leaving the area for the sake of real estate investing isn't in the cards for us.

These props were in good areas so I am guessing that is why. keep in mind true A class areas whould see majority of comps being sales to homeowners NOT investors.. homeowners dont care what the cash flow is or the potential rental income is only investors do..