I recommend buying using the 2-3% rule as opposed to the 2% rule as times havde changed and the SFH market is rich with deals right now.

Rich -Since I know you spend a lot of time on cruise-liners, I thought you might "appreciate" this...though hopefully you've never had to deal with anything like it:http://www.liveleak.com/view?

We are currently networking in local REO's in the fort worth area, attended rich dad seminars and weekend workshops, and looking to do our first deal.

Rich

Yes you could get sued, but I think your probably more likely to have a tenant coming after the "rich landlord" than some guy off the street hurting himself on your property.I'm not the expert though.

Rich

You may be better off dealing with "poorer" rich investors, such as those that have only $5 or $10 million and do not know much about real estate but would like to profit from it as the bubble continues to burst.

You may check into using a series LLC too...I am planning on possibly switching to that for my rentals going forward and I think Rich Weese uses this too.

I also sense some underlying tension you have with Rich Weese from the banter back and forth.

If you follow Rich here on BP you'll notice that he's lived and purchased property in a number of places with great success.