We found and selected the best potential lot for views, privacy and proximity to all the desired locations such as ski slopes (6 mins) lake 7 mins, downtown big bear (restaurants, pubs and entertainment are only 12 minutes away) We designed the entire project and placed the home facing the national park with no other houses in sight giving the feeling of total immersion with natures yet, close to everything.

You'd be paying more per month but wouldn't benefit from appreciation, tax benefits or principle pay down because only he owns the property.

Out of sight= out of mind.

It's an ingenious game for the following reasons:  It focuses on financial principles and running your life like a business with a balance sheet and income statement.  2nd principle it focuses on is playing the game with like minded people, some experienced, some not as much. 

I've been in or around real estate since 2004, when I began as so many other naive, greedy and short sighted mortgage brokers, err bankers.

But let's cover some basic concepts and then do some quick math if you don't mind.If I am "buying and holding" a property (meaning, a rental property) I make income 3 ways - cash flow, appreciation, and principle buy down. 

I've never purchased a property sight unseen before.  

Assuming $70k in income, $20k in principle paydown, and $40k in other expenses your taxable income would only be $30,000 (multiplied by whatever tax bracket you fall into to estimate what you would owe).

Your payment is principle AND interest amortized over ten years.

I'm planning to arrive SD earlier - Friday evening (Sep 30).If any of you is doing the same, let's connect and get together for dinner / brunch / or maybe some sight seeing.Let me know if you are interested.P.S.