Maybe he (Buffett) can't avoid all the big losses but $10,000 invested with him in the late 50's would be worth about $90,000,000 now and he has averaged roughly 20% returns a year for the last 50+ years.

A guy down here in Dallas, Tx started doing rentals ~8 in the 80's.

Its not my area of expertise, and your profile is not updated so I am not sure what specific avenue(s) you are after.

Nice meeting you Eric S.

Hey Ibrahim S, why don't you come to Bruce's meeting tonight, and we meet!

Steven, would you happen to have any literature relating to the landlord's not having to issue 1099's?

Here are the numbers:Asking price: 120KUnits are 2/1's, rent for $600 eachBuilt in 1959Tenant pays heat and electricIncome: $600 x 4= 2400/month and 28.8K/ yearlyI used the 50% rule to cover expenses, but some of them would presumably be:Insurance: $115Taxes: $357Vacancy: $240 (10%)The property seems to some sense using the 2% rule (2400 a month rents is 2% of 120k).Financing: I plan to live in one of the units and use FHA financing.FHA down payment of 3.5%: 4200Loan of 115,800 at 3.5% interest= $520 monthly paymentAfter 50% Rule, $1200-$520 = 680/4 = $170 profit per unit/monthlyI have just a couple questions about the property.The owner recently bought it and replaced the windows/doors and claims that the building is in good shape. 1.

I cant stand Uncle S either and it makes me sick writing him checks so he can piss it away, but it is a fact of life living here in the US.

Back in the '90's we bought a new pair of Ropers for our Florida home.

I put them into my S corp.