Fortunately they moved to FL, put all the money into their home, and FL homestead laws protected them.

BP forum is a really helpful resource because I wasn't fortunate to find this when I did my first few deals :( You are in good hands here on BP but don't forget take everyone advise with a grain of salt. 

If you’re looking to take a more passive role in your real estate and want the benefits of diversification there are funds available to accredited investors that are designed to allow investors the opportunity for ownership of institutional investment grade property that is occupied by regional, national, and Fortune 500 credited companies. 

Fortunately, he has pretty low annual tax for about 800 per year.But, suppose you account all of the big items and average them out down to the per month accrual, I think $200 seems like a good number to have for capex.  

We don't go until Mid-July..Go forward with Good fortune!!

We have been very fortunate that I purchased what I could when the market was low during meltdown and I didn't anticipate run up in values so quickly. 

Real estate prices rebounded, the principal made a fortune.  

I keep hearing that most or a majority of the wealthiest people have built their fortunes through real estate and that the Forbes 400 is comprised of a majority of RE investors and developers.  

I was fortunate to get this from my JV who is also a good sounding board - I get explanations that I can compare to those that I've look upon with good content.My JV agreement allows me to buy, if I wish based on what I'm looking for so I'm not forced into anything I don't find appealing.

Some communities were able to repurpose the base property, and others were not as fortunate.