@Joshua Dorkin you did the admirable high road by not engaging with this persons negativity.In my opinion, there are definite distinctions between the terms Flipping, Repositioning, & Building Equity.Flipping is about finding & controlling (not necessarily owning) a mispriced or undervalued with the intention of selling it quickly.Building equity is more about reaping the benefit from appreciation & amortization of time.Repositioning is about improving property value by:1) Shifting to a higher utility ex. raising the income in a "C" class apartment building to a "B" apartment building by adding amenities & improvements to attract renters willing to pay more)2) Changing useex. taking a single tenant commercial or industrial building & changing the use to multi-tenant retail or condominium lofts.

It's important to remember this distinction and let it guide your choices.

But wealth to me is when my rental income matches and surpasses the day jobs my wife and I have as a nurse and engineer.

jk) Each FIBI chapter is distinctly different .

Not to mention I have 3 mortgages so I would probably have a tougher time getting a 4th.I am currently at 12% on my employer 401k and match is only 7%, I put $100 extra in another Roth IRA and $100 in a mutual fund so if I pause everything beyond the match it will free up another $500/month to hit it harder.

(Possible risk of BK delay, property damage, market risk, upfront costs etc.)As may surmise, if you aren't receiving any upfront down payments your risk is much higher & the buyer is much less motivated to solve any problems.As for the 1031, you have to exchange into a property that matches or exceed your total debt & equity from your relinquished property.

If you JV (no matter what form) make sure your financial partner can cover the unexpected.As you learn more, grow into the transaction engineer, so you can match the deal to the technique.

I would also double up support of the engineered spans over the living areas because settling & weight upstairs may/will cause distinct drywall edge profiles if there is any movement over time & correcting it for resale is a LOT of unecessary work.

I would suggest getting magnets with a background color that matches your car.

A low LTV lien doesn't seem to be enough to get a loan done in my experience, reg D filing or not.But I've run across this org that is starting up a service of matching up lenders with borrowers: blackhawkI don't think they are related to the hedge fund, but the name similarity is odd..I suspect and hope that more orgs start up who'll be a clearing house for higher yeilding loans like what real estate investors can afford to do.