I have seen too many people simply "wing it" only to get buried in IRS, legal, or other troubles that are much more costly and could have been avoided.

However there is some speculation that the paper gold markets may dislocate due to the lack of underlying physical supporting these markets.

FLFlipper, what happens if your buyer doesn't show up at the double closing (heart attack, traffic accident, changed mind, simply late, etc., etc. ) do you have a backup plan?

Unfortunately, what the government is doing is simply making things MUCH WORSE.

Jorene,If you want to learn about real estate investing, simply start reading the various forums here on BiggerPockets.

And we get to pay for ol Krzysztof Duszkiewicz's health care simply because he can't get along with his boss.

I don't have bad credit, just lack of credit.

Keep in mind that these people are either threatened by their own lack of success or are looking to protect their own butts.

Most people are happy to just have a nine to five & lack any real ambition.

That information simply does not exist and many (most) investors don't understand operating expenses themselves, let alone have accurate records for their property.Finally, the vast majority of newbies fail in this business and the majority of rentals in the US are owned by individuals.