Not to mention muni compliance liens and mechanic's liens.

Realtor.com is awesome and if you scan it everyday, you will see the deals pop up before your realtor's mls auto-emailer notifies you.

This means the roof, mechanicals, carpet, etc are going bad over time and you have to start saving for these on a monthly basis.Example: let's say your cost of roof: $10,000 Lifespan: 20 yearsReplacement reserve: $10K/20 years = $500/year or $42/monthYou can find out what your replacement reserves need to be by having an inspector give you the deferred maintenance items and estimate how much this will cost.Other than that, it seems like you have an awesome deal.

I had a auto loan, but by selling my car (1 of 3) I was able to pay down that debt and buy the house (My fiance doesn't work, she is just a student).

Does it mean, even mechanical liens doesn't hold?

Usually landlords have PM's handle small items but any item over a certain amount landlord approval must be obtained first etc.For my units we would always replace the locks or the locking mechanism.

When I was a youngster, no one would have dreamed the auto industry would fail.

I agree with Jeff,Solo 401K is a great mechanism for investor.I opened one and rolled over IRAs and 401k from previous employers.

I say this to crystallize my goals, but I have ZERO real estate experience, having just discovered the business two weeks ago through reading a couple of Rich Dad books.I graduated from the University of Florida with my bachelor's in Mechanical Engineering, and have secured my dream job with XTO Energy in Forth Worth, TX.

I love the mechanics of REI and dealing with people (a cliche I know).