Hi, Id like to introduce myself as a new member, recently started been interested in real state as a way to create both cash flow and extra income doing house flipping and wholesales.My wife and myself we are just in study phase and will be for a little longer, plan is start with a duplex or four plex to create some cash flow and go from there, we both work for a great local property managment company and with stable income i think real state will suit us well.Is great to be here, big fan of the podcast and will be hearing from me in the forums.

I'm not down on owning outright - I'm a fan of low to moderate leverage - but to say there's no cons to owning outright is deceptive.

The sh%$§ has already hit the fan.

If crap hits that fan- are you able to repay them quickly as to maintain the relationship and not screw them over?

(Electric, Gas, Water)Heating source (Gas electric oil; furnace boiler heat pump electric baseboard etc...)Cooling source (window units, a/c units, fans)Age of roof and type of shingleWater heaters (electric gas and age)Windows and doors (metal, alumini, vinyl etc....)  

I'm not a fan of doing anything 'sight unseen,' and this is an excellent example of that.You can find plenty of success stories about doing things this way, but what you almost never hear about, are the failures.

We had a captive market for these restaurant/bars.Mark

I have met many engineers who changed careers later in life, but I haven't met anyone who changed to engineering as a second career.Also, I am a big architecture fan.

Maybe a new microwave or ceiling fan.

Unless the seller or insurance company is willing to pay for a renovation, I would consider just putting a fan or two in the crawl space to dry up the moisture.