Not waking up when I HAVE to, to make someone else rich.

@Joe Fairless The two things you addressed in your post are the two things I plan on putting the most effort into within the upcoming year before starting my REI journey.Look forward to further communication with you guys in the future.

Happy I found this forum, it seems rich in support and nurturing in education.

After thinking through the issue, I have decided to offer the tenant 50% of the late fee bcause she communicated early and promtly.

Just in my mind I feel that owner occupant cash sales are going to cluster a lot on the very low end like under $50-60K since it is hard to finance them or on the very high end like getting into the million dollar and up area, since the people getting those usually are the really rich.

I am okay with waiting for a tenant that has at least one english tenant over 18 years old because I want to be able to communicate with them on an ongoing basis.I am worried about discrimination though if I do not offer applications to those families that can not speak english.

But at the same time, I guess I was thinking along the lines of Rich Dad and simply to start small and trade my way up (play monopoly).

Yes the Rich Dad guy but this book is about how to build your investment team and that is key in this business.If you haven't read "What Every Real Estate Investor Needs to Know About Cash Flow..." by Frank Gallinelli (http://amzn.to/Zv0Zph) yet I would put this on the top of your list.

Get rich quick schemes are just that - schemes.OTOH if you want to begin to invest in real estate, have some time to invest and some cash to get the ball rolling, there are multiple avenues to make money.

I'm not trying to get rich now but I am trying to retire by the time I'm 45-50.