That is because my goal for my first 4 houses has been to get them bought, rehabbed and paying for themselves entirely independently of the rest of my portfolio, and to have them paid off in time to gift one to each of my children.  

Here is a list of prohibited persons:Examples of disqualified persons for IRAs or 401(k)s are: The IRA holder and his or her spouseThe IRA holder’s lineal descendants (children, grandparents, etc.)

My name is Essie Dodson, I am a mother of 4 children.

Most time you really have to treat a lot of tenants like children.

Children play in the water. 

Do you have children? 

Single Family is is a nice neighborhood, typical urban.One property has potential to generate greater income when children move on but requires more investment to update.And would it be worth it...we live 3 hours away.And then there's the MI economy that is awful and property values are dropping.

The land is family land that was divided up between the children - she was VERY chatty!

I will have the keys in my hands on April 1st, spend less than 8k and have it rented by the end of april for 1357month via Section 8.I think this is a good deal, but it took me 4 months to find it..Last place took 7 months at the sheriff sales, but they cash flow, need little work and I am in and out..Point is...Take your time..It isn't how many properties you own, but what and where you own them..You also want them to cash flow.I deal only with Section 8, because they direct deposite to my account..I am not in the business of chasing rent..I explain to them that I own the property, not them, and they WILL TREAT IT fairly..I prefer single mothers with children who are on disability..I never have to hear that they lost thier job, because they will never have one..I let them know I stop over once a month to check the heater(my excuse to check on them) and it works well..Another angle I have come up with is that I buy NICE places and make the people on Section 8 feel proud as to where they live, and it seems to pay off..My one tenant drives me nut, because she is always calling me asking to hang new fixtures on her sink, or the 4 foot by 6 foot stained glass picture above her fireplace, or the fancy $400 lite she bought for the hallway...I don't know how these people have such nice things, but no job..I don't ask..All I know is they treat me well, and I would rather her call me to be her interior decorator than to hear that she is trashing the place..

You can't say something like "we won't take anyone with children" for example.I like to get a copy of the applicants' state ID and their date of birth.