Debt free at age 38 is a dream of many people.... but I do feel exposed since the job market is a little shaky and my wife stays at home with the kids.Has anyone on here had to make that decision?

Either way it seems like a giant hassle and a situation that could turn out very poorly if you go in and start taking your tenants guns and tv's.

This information is invaluable.I do agree with you the final decision to purchase needs to be based on actual costs and reasonable estimates.

As a newbie, I've finally obtained the funds to safely invest in my first buy & hold - So this month I've been doing nothing but debating over myself on two decisions - talk about feeling like a slacker compared to you veterans out there!

I also suggest you keep your money situation to yourself until you know who you are dealing with, you need to play poor as a church mouse, IMO.

Including the points made above how many assets you want to encumber as well as any additional guarantees the lender wants you to make might help you make your decision.

Your rent decision of 650 instead of 700 is costing you a couple points in yield per year at $600.

I made a big decision today!

They're usually in such poor shape it scares 90% of the potential offers off.

One can be an excellent agent without the certifications, or a poor agent with a business card full of acronyms.Aside from the normal qualities desired in any professional -- good communication, reliability, diligence, initiative, responsiveness -- a good investors' agent needs to have a level of expertise that's hard to get in a classroom.