I don't like debt, makes me nervous.

Getting into a buy and hold with only $25k could be a problem too in CA, so you would have to venture into the desert cities combined with leverage or go out of state.Investing in a syndication may be tough because you would not be an accredited or sophisticated investor, potentially making you ineligible.I would learn what I could on rehab flipping and/or wholesaling, use that $25k as your skin in the game (after you get fully educated on how to) and build more capital from there.

That can be a good way to get underwater, rents fall, cash flow goes down, caught with long term debt.

If you acquired all cash you would earn a higher return but if it's not possible to go in with no debt then the deal deserves extra scrutiny because your margin of safety would be thinner.

It is ever so easy to slide into debt in your mid 50s, but extremely hard to battle your way out of it when you are in your 70s.

I am figuring 58K 'All In' The current rent is $700, but I feel it could easily be $850 or so, but I am basing my figures on $800.The house has had new roof, windows, siding, water heater, and flooring in the last few years.My rough figure are;8800 Operating Income$3800 Expenses (only about 40% since all the recent upgrades)$5000 NOI - $4000 Debt Service= $1000 Cash FlowNot quite $100 'per door', but I would also be building equity at about $100 a month, along with likely appreciation of $100 - $150 month.

This could be with real estate but that is for another discussion.We have a decent nest egg to cover the year and retirement, great credit, no debt, but have never owned property.

Your draft could be coming from the wall OR if this is on the first floor from the basement/sill area up through the floor or any openings in the floor.Wind and cold are a wild combination.

A Probate lead indicates that PR has started the process of paying of debts and transferring property to heirs.  

Is he saying that he always pays his salary first before all debt?