In reality, the complex took longer than expected to build, the market tanked, the Newark Bay was black & smelly, and he got stuck being a landlord for 10 years with the rent money barely covering his mortgage, taxes, and HOA fees.There is a lot to learn from this book and its an entertaining read for any Bigger Pockets fan!

I'd much rather have a building in LA appreciating over time than a building in, say, Tennessee spitting off $300/month while barely appreciating.When I run numbers, I break down my expenses as follows:Taxes: 1.27% of purchase priceProperty Management: 5% of gross rentsMaintenance & Repairs: 5-10% depending on the condition of the buildingCapEx Reserves: 0-5% depending on the condition of the building and renovation planInsurance: I get an actual quote online from my provider, takes 10 mins, or just assume $3000/yearUtilities (water): $60/unit/monthServices (lawncare, pest control): $100/monthThese should be tweaked further if there's a unique circumstance, like individually metered water (rare) or no grass (not as rare).Add principal and interest, and my target is a 2% cash-on-cash at current, below-market rents.

It is on zoom this thursday hosted by some very good friends that have participated in several syndications.

I currently have a 9-5 job, not as much working capital as I would like to participate in a deal, and have also been learning on the go with the BP podcast, books and talking/meeting with local investors. 

I had to work out a deal with the bank to allow me to make only $650/month mortgage payments for the first 2 years so that the property could just barely take care of itself.

Macro perspectives in real estate are good for identifying trends but for most investors on this site, they are participating on a micro and level, one deal at a time.  

If you know a lot about pharmaceuticals, look at pharma companies or participate in venture backed early stage companies. 

There's barely any room between the drywall and chimney so if I decide to move the line outside the chimney, it would be a much bigger deal with the drywall project and disrupting my middle tenant. 

I'm in Leesburg as well and there is a NoVA REI Meetup that I participate in once per month but I'm not familiar with another specific to Leesburg/Loudoun that meets biweekly.  

@LeeAnna ZepernickHere are the general considerations regarding 401k loans.401k Participant LoansIf your 401k plan allows for 401k participant loans, the maximum loan amount is equal to 50% of the balance up to $50k.