Not the part about your house being a liability, I figure most of us read Rich Dad, Poor Dad, and probably buy his take on that.

If anyone has read the "Rich Dad Poor Dad" books "Robert" often talks about the opression in his ancestrial country and how wealth is created in many other countries by corruption and surpression and why we should be greatful of american standards.

Originally posted by @Rich C.: I currently have the funds available for downpayment and rehab costs in my roth IRA for a rental duplex (the rental duplex is bank owned and thus has no tenants).

Lack of communication and oversight from the landlord.You can recoup the costs of damage via a strong lease and a deposit.

Sounds like poor communication may have been an issue early on, too.

I used to let clients know that this strategy was best for their over all plan especially who get lured in by the 10-15 Term fixed loans who cant understand why they dont qualify for another loan after using these principal rich products.

to me, it's ok if it's a little long winded at first, as long as it opens up the opportunity for my partner and I to communicate to each other what kind of business we are creating, rather than just getting started.So, for my feedback to your mission statement, I think it's good to have the mission statement, and I think it's pretty good because it seems like it helped you establish what you were going to do in your business. 

You May have been to a Guru seminar if..........You believe brokers will continually submit deals to you although you have no capitalYou believe lenders look at the property ONLY when considering whether to lend you money, so that your multiple bankruptcies, credit score of 490, and $80,000 in credit card debt won't matterYou think that commercial real estate sellers will accept post dated checks for $100 as sufficent earnest money.You believe no seller is sharp enough to see through the numerous “weasel” clauses you put into your purchase contractsYou are persuaded that the only difference between a $1000 transaction and a $1,000,000 transaction are the amount of 0'sYou believe everyone who critsizes your plan is jealeous and wants to see you failYou believe that 20 years of hands on experience, a four year college degree in real estate and yearly mandatory education seminars can be trumped by the “intense training” 3 day seminar you just paid $7000 for.You believe that the $7000 you just borrowed on your newly increased credit line to pay for that seminar is an “investment”You can't believe people actually wasted $80,000 and four years of their life learning “useless” information in collegeYou believe assembling your real estate “team” is your key to success and a necessary first stepYou believe you can actually contract with the best “players” in the industry although you have no experience, capital, or track recordYou believe that once you find the deal that fits the formula money will come to youYou believe that your Guru has provided you with exclusive information on how to find “bargain” dealsYou believe one in a life time “steals” are an everyday occuranceYou believe you can be successful working “the system” on just weekends and holidaysYou believe the Guru got rich by actually doing real estate deals rather than by using a slick promotional sales and training systemYou believe the personnel provided to assist you are actually real estate investors who actually have experience and knowledge and aren't just some failed salesman reading from a scriptYou believe you're the first person to think of using BiggerPockets as your source of wholesale leads or to build a buyer listYou believe wholesaling is investingYou think the term is “whole selling” not wholesaling.

If you want to get together to talk sometime let me know, I handle finding tenants, leasing, money and general communication stuff, my husband handles all the rehab/repair DIY mostly so while not experts we do have some experience we don't mind sharing.

@Rebecca Lebowitz I think that the proof is in the lack of communication on the part of the tenant.