But if I choose one of the lots further away from the railroad tracks & bay I wont have the beautiful view.

And I got almost a whole house left....what kind of person paints their entire house in dark red and green, and lime green?

If you were able to choose from a range of investment mortgages... from those that are currently available in your local market and one that is available to you at 2%, which would you choose?

Newly painted in 2006.Purchase Price $400,000.00Down payment $80,000.00Mortgage at 6%.$1918.00 Monthly debt paymentGross Rental income$37,020.0010% vacancy ($3,702.00)Tenants pay utilitiesTax $3600Insurance $1500I'm assuming 6% property management.

Newly painted in 2006.Purchase Price $400,000.00Down payment $80,000.00Mortgage at 6%.$1918.00 Monthly debt paymentGross Rental income$37,020.0010% vacancy ($3,702.00)Tenants pay utilitiesTax $3600Insurance $1500I'm assuming 6% property management.

Depending on the situation, the homeowner has several options to choose from.

If you cover yourself, choose a qualified tenant, and be fair all around, everything should work out ok.

If they owe 70% less than MV then why would they choose to just give their house away versus going through a realtor to sale it?

However, during my 30s and early 40s I spent a lot of evenings and weekends painting, roofing and other "fun" things.During those years my friends always said, "you're sure lucky to have those rental houses", although they didn't realize I wasn't making anything/very little from the properties back then.

The REIT usually is or will go public, so you have more liquidity, can choose when to sell and recognize your taxes, if ever, remain diversified in real estate without any management headaches because now you own a security that invests in many commercial properties.