I could take down a couple properties in the range I'm looking at and still have a comfortable level of cash reserves.I've had more in equities in the past, but after being burned a few times I'm much more cautious than I used to be.

So I know people who are wealthy that only do retail and they couldn't tell you anything about another asset class.Their level of knowledge is so high in that one field that they can make money and returns in any market and know the cycle hitting way before anyone else.During the boom times some companies ventured out into un-chartered territory and got burned pretty bad.

It's a term that should be banished from the English language once it's gone from all the houses (or burns them down).

tim, awesome post...i got burned last winter paying heat for a tenant, and i'll never do it again...learn from my mistake

I spend so much energy each year on taxes that it is ridiculous.

Try not to do this too much or you'll burn your reputation.

If you want to own rentals in this area it is better to not burn the brdiges and just go straight to rentals.

Many of the residential tract homeowners have leases in place with energy providers.

Also since I am only paying 45k for property and it did burn down or something and they can't rebuild it for a 100k won't I get that 100k and pay off mortgage an keep rest I amConfused as to what I actually need for insurance.

In fact I'll probably be making a fast buck from you when you fail.Money can be made here, but you really, really need to know the market or you are going to get burned, hard core.