You are going to need to decide on a location first.  3 hours from Ellicott City is as far north as NYC and as far south as Richmond VA.

I will tell you that those nerves are normal and it means you are thinking carefully about the decision and understand its weight. 

If you don't have that in cash and or equity in other property that you can collateralize, you can partner with private money and offer them a nice rate of return.

While my spreadsheet is great, it would be nice to have a full story on income, expenses, improvements, depreciation, amortization schedules, etc.I have looked at Argus and PlanEASE, but would like something that  can be both used on mac and PC.Cheers!

In three to 5 years you guys can renew your vows with the money you have earned now you can spend double that much on a service and probably even have a nice honeymoon somewhere for a few weeks, maybe a month depending on where you want to go.

Awesome I appreciate all of your responses and good to know welfare (which the 1 I inherited is/was) is a waste of time.The other tenant I am working on right now ... good job, nice new truck .. just a challenge, but learning experience and thanks for your help gents

... also, regarding you getting a loan with this proposed purchase: the credit of the IRA account owner would not be of weight here, the loan must be non-recourse, the IRA account owner can not personally guarantee this loan. 

I would then promptly provide my good buddy friend of mine landlord with the receipts as he asked.I am sure that while I was out shopping I will have seen a nice stainless steel refrigerator which will be perfect to replace my soon to be broken/sold one.Oh, and by the way- I will continue to keep paying my rent late without repercussions.

Plus I am a pretty nice guy

Hey @Louis Jordan,Nice to meet you and welcome to BP.