They are on the decline and fighting to survive.

I ran all my numbers with a hand held HP pocket calculator and a legal pad.I jumped on computers and programming spreadsheets as soon as the technology arrived and have evolved with it ever since.There is no doubt that many of the time tested methods work and should be applied but I believe that also holds true to embracing technology.There is nothing wrong with using it and everything wrong with placing too much confidence in it.Having the ability to create and employ a robust pro forma model is a critical skill set in my underwriting and managing a project.The problems that may come from doing spreadsheet analysis come from poor use, faulty data and a penchant to believe one’s own BS.

The model i used is to start was to purchase 5 $60k houses which generate about $2500 net monthly.

In reality, the city is dangerous and slummy and visitors discover that the streets are not lined by local stars and the scent of orange blossoms but panhandler, druggies and the occasional waft of urine.The big ticket, get-you-while-you're-on-a-high seminars might offer some content, however when we're new, we're in overwhelmed mode still trying to understand how real estate (or any other) business works.

Usually the boiler survives.

If you can survive off your W2, I highly recommend reinvesting 100% of your earnings back into RE.

Will folks survive the competition? 

I'm in the military, and as such I have been raised to believe that "I need the military" to survive.

I'm looking at one in Idaho and, not totally sure, but think the Medicaid lien may survive the tax deed sale.

Trusts require careful planning to set up (at a minimum) and since it's your first time, you'll probably want to use an attorney.I will say that the most common model I hear people talk about using is to hold a property in a land trust, which is held by a personal property trust, which has an LLC as a beneficiary (one LLC total, and two trusts per rental property).