The stock market appears to be doing well because so much money is being printed and flooding the system and that is always good for the market.With the failure of these four bubbles we have two left – the dollar bubble and the government debt bubble.

It is a private mortgage note, but you are still personally responsible for the mortgage payment and upon failure to make payments, the owner/note holder can and would foreclose, just as a bank would do.

Has anyone had any success/failures that they would like to share about retirement communities (55+)?

Assume all options net at least 50k.1:Rehab - 100kSell house and both lots together - 300kGross 200k less purchase priceTimeframe - 1 year Risks - Over budget reno (house is in pretty poor shape)2:Demolish existing house - 20kSell lots individually @ 90k each - 180kGross 160k less purchase priceTimeframe - 6 monthsRisks - Difficulty selling vacant land (note - lot 3 doors down sold 6 months ago for 125k)3:Demolish existing house - 20kBuild spec on both lots @ 175k each - $350kSell individually @ 300k - 600kGross 230k less purchase priceTimeframe - 24 monthsRisks - Larger holding costs, over budget constructionOption number 2 is my default preference in that it's the most simple and in my mind least risky in terms of catastrophic failure.  

Failure is not an event.

Don't frame that you couldn't quit as a failure.

I think a good litmus test would be to think about the worst case scenario: for example, in 6 months you have to replace the roof on this property, evict the tenants for failure to pay, AND replace the refrigerator and dishwasher in another one of your properties (you should consider how this affects your ability to handle risk with your other investments, too...).

Another way of saying it is, " Fear and failure was not an obstacle because fear and failure was already a part of their lives."

It isn't REI that is restrictive/limited in passive income...it's the market... and when that market is telling you "don't invest here" (which it sounds like it is), then you need to find a market somewhere else.3 things that every REI MUST understand, and be able to blend together are:1)  Market Analysis to find Where to invest.2)  How Money Works, to find How to invest3)  A REI Plan, to find What to investThe most common failures are brought about by the lack of true understanding of those 3 things, and how they relate to REI.  

Technically, you should have filed Form 1065 and issued K-1s, however there is a "Small Partnership Election" that allows you to avoid failure to file penalties if the IRS ever comes knocking.