I feel buy utilizing this forum, costly mistakes can be mitigated.

Currently we pay $1180 a month to rent out a 1140 square foot town home and about $1536.00 after utilities.

With that being said I bring my first question to the forum.What kind of measures do bankers look for when you apply for a loan on a income producing property?

Only on rare ocassions have I seen the bank/lender allow buyer to utilize own title company.

Despite their inability to produce a rent roll, I know the area well enough to have a strong estimate that a 2 bedroom is renting for $575 a month and a 1 bedroom is renting for $500 a month.

Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization.....Such interests impose obligations beyond those of ordinary commerce.

or governmental agency to produce evidence that the home is lead free.

Giving that up by holding free and clear does not equal a smart use of my money (in my opinion).Others like to have the comfort of not having a mortgage and increased cash flow, but I would argue that my lower cash flow through the use of leverage but spread over multiple properties produces a better cash on cash return.

That may seem like a small example but it represents the shift in mindset that needs to take place and explains why USA is known for consumption rather than producing exports.

Anything you can truly own is a very strong position to be in.As to one thing to do with precious metals - an idea that came to my mind that I can't condone was get as many credit cards as you can, use them to buy precious metals, convert the precious metals back to currency, use the currency to purchase income producing assets free and clear and if Armageddon hits - default on your non recourse credit card loans and ride out the 7 years of "recovery" when there's going to be little to no credit available anyway and start anew 7 years down the road when you're credit record is cleared out and you have appreciating, free and clear, income producing assets....with a clear credit record.