So, this fall, the property came up on the tax lien sale.

I currently owner occupy and SF and will be looking to sell in the fall in order to purchase a MFR.  

@Rodney Smith Congratulations on having that kind of equity to invest with.I just did a 1031 for my parents this past fall with the same return.

Its a falling knife in that regard.

That way if your seller has issues and wants a Realtor friend or lawyer to review it, the Realtor or lawyer will understand it.We've used other contracts in the past, one page contracts, and have had our deal fall through because of it.

A delayed closing sucks, but to me, it falls into the "**** happens" category, and the deal was still in place.

It is also close to Minnehaha falls.

Do rents start falling on September 1?

I'm not responsible for my tenants other bills, not sure why I would pay for his/her utility consumption.Can you direct Ontario Hydro (Power-one or whatever their name is now) that you will not longer be accepting such redirected billing and, in the future, they should suspend service and notify you if a tenant falls into arrears.... or, you could always send them a bill the next time a tenant falls into arrears with rent. ;-)

33K in student loans, about 11k on plastic (wedding/honeymoon/school), plus houseMy experience in real estate is limited to spending time with my grandfather growing up.He had several rental houses and would always be working on them.As I grew up and paid more attention to the business side of his work I realized that he was working just to stay busy and not working to create more income.His end goal was always to create more income but he was always distracted by the job of remodeling and updating.He has been my mentor and main father figure for years but now it is time I “upgrade” to someone capable of guiding me in the direction I want to go.I will always love my grandfather but his business sense is not one I need to follow.My goals in real estate are to create a “four hour work week” (gotta love the Tim Ferriss way of life) by a combination of buy and hold and flips.I hope to use this method to create a stable business and then move into apartment complexes.After lurking on this site I have learned about the different rules needed to ensure profit out of each.In my farm area there are many MLS deals that fall into these numbers.Now it is just about raising funds.I would love to find some Sub2 deals.Famous FourFavorite real estate book Never read one.Bigger Pockets Favorite business book Poke the Box by Seth Godin, 4 Hour Work Week by Tim Ferriss, and No More Mondays by Dan Miller Hobbies include working on cars and spending time with friends and family.These are very important to me and I do not get enough time with my desk job with either.What is thing that sets apart successful investors from those that fail Getting back up on the horse after failing and not letting friends and family tell you that being an investor is a stupid idea.