Check those two lists against all of the lists and articles you have been reading to see where the closest crossover is.That is how you find a competitive advantage.If you build an out-of-state funnel with everyone you just met, you will not have a competitive advantage.Number 1 above gives you a personal, geographic advantage.

Say someone has $20,000 cash and its just sitting there, and cant be used for retirement accounts because they are maxed, and the person has no debt.

Something I keep in mind when researching on YouTube is finding someone the most similar to myself in regard to personality, so that when you viewe their videos, you could see myself easily applying the information.

@Juan VargasI personally started my business by leveraging credit and now own/operate a multi-million dollar real estate portfolio.

If you are going to manage a rental, you should educate yourself on what you can and cannot do.

To this end, I have started listening to the BiggerPockets podcast, which has been instrumental in my educational journey.

This formalizes the relationship and segregates the rental income from my personal income.Banking and Accounting:Separate Accounts: Open a separate bank account for the LLC.

It seems you got lucky in the past, but unless you’re willing to put a lot more time educating yourself it seems REI may be challenging for you.

Personally I would rather have the $260k now and invest it and get 8-9% than $100k now and get 6.75% over the next 30 years which is taxed as ordinary income...

Maybe $50-$100.More importantly, is get this person out.