Thank you for the detailed response, Ben Leybovich, it's good to get a dose of reality.

I don't like rules of thumb because the details have a way of popping your bubble.

I will try to add details as I go.

I am a testament to how great this community is - I flipped my first home and bought my first cash flowing rental after some BP veterans helped me out with the numbers and details.

Buy and hold offers depreciation, leverage, and other advantages that are either lost or much more difficult in a retirement plan.I have commented in many threads in full detail on this subject here on BP.

Hey all - Our PRO page was previously was only a chart of benefits -- we spent some time to make sure our users knew the real value that came with the account by putting in a lot of detail to help you better understand the upgrades.Thanks to our hundreds of PRO members for upgrading already, and if you haven't done so already, now's as good a time as any to do so and see the full benefits of our BiggerPockets PRO accounts.

Write up a joint venture agreement or if LLC's are cheap in your state, set up a partnership LLC detailing in the operating agreement how the funding and payments will work.

I still need to detail it out and decide excatly where i want to be in 1,2,3,5 years.

When I inquired for more details the guy would not come on phone and kept saying he is at work etc and would only text me at odd hours.

Ann, thank you for such a detailed response.