Rich Dad's Cashflow Quadrant - Robert KiyosakiIn order to win the game you need to understand it!

Traditional bank financing with 15% down.

@Rich Leone Unfortunately the eviction moratorium is still in place in Minnesota so you cannot non-renew at this time.

You will have to be approved to carry two mortgages as well from a lender if you will be doing this the traditional financing way.

The main difference is that your loss is ordinary, and the most that you can deduct is $3,000.The only time where you will have to submit Form 4797 over traditional capital gain form, which is Schedule D, is when the asset was business-held.

I recently read "Rich Dad Poor Dad" and it turned my life upside down!

I also have properties in Florida and while they are doing well, they are also not ideal for the traditional investor.  

Just like Robert Kiyosaki says " If you want to becoming rich in real estate, buy 4 green houses and one red hotel.

There are some cash flow rich areas in Michigan, but they could be in C areas if you are not familiar with the neighborhood.

I've seen a lot of mentions in the forums of people wanting to do this strategy, because especially in todays market it is tough to find deals with a traditional strategy.