Leslie,If you are a saver and disciplined with money, go with 30 years, otherwise 15-year mortgage makes more sense so you're forced to save the money into equity for your house.The difference of a 15-yr mortgage vs 30 for a $400K purchase (assuming a $320K loan and 4% interest on 15 and 4.5% interest on 30) is over $700/month.

Don't forget that "complex" structuring is still used by many other commercial disciplines as "everybody" needs to segregate their liabilities. 

. ** The masterminds : I have found that non-paid groups could be great, but the problem I have found is that people tend to be less committed and getting them to be discipline and to show up is extremely difficult. 

My personal 20% is setting up and maintaining systems and processes to find and manage properties efficiently, time management so I can put family first, having clearly defined goals, having the discipline to wait for the right renters and buy the right property for the best price possible and continuously learning.

Now, ever since we shed our retail management division, the boutique TK experience is something that is repeatable, owners and tenants alike that we serve are able to receive not only our undivided attention but actual measurable and consistent results - that's what counts - you have to have a process, you have to have a STANDARD and you must be disciplined to achieve maximum results, everytime!

You must be very disciplined in your spending, and have a significant higher income vs expenses. 

@Jon Puente I am disciplined enough to use it only for investment properties.

Discipline is key.

First, while I know you are already on top of discussing financial literacy, I would be sure you have emphasized how important discipline is.

Once in a while I get to talking when I'm far away from home (usually on vacations), and someone tells me that, yeah, they'd be interested in getting into real estate, but that never lasts and once they start to see some of the long-term discipline involved with no certain reward, oh no, it's not for them.