Obviously its not that simple, and anyone who has purchased a property knows the get a loan, find a house, buy a house, manage the tenants is much more complicated than you can imagine.

He was not great on paper but held himself well and showed he makes good money but now he’s just not paying.

Paper Towels (two rolls) ($2-$3 bucks)Toilet Paper (4 pack) (for when moving people forget the basics during a move)Hand Soap ($1.79 I think)Dish Soap ($2.00 or less Dawn)I spent maybe $60 on all of it max.

The simple thing you can tell someone.

I operated at a small loss for years but when you add depreciation I'm sitting on 35k of deferred losses on paper (my W2 income was too high to claim the losses).

I've heard stories where someone opened a simple credit card prior to closing on their mortgage and it delayed the process.This may be different if you're using the same lending institution for both the HELOC and the refinance, just make sure if the loans are going through two different departments that everyone is on the same page.Best of luck! 

A simple “morris invest reviews” Google search will give you an abundance of information that will save you thousands, possibly tens of thousands of dollars in the long run.Scary BiggerPockets Case Study About Morris Invest: https://www.biggerpockets.com/forums/92/topics/392727-morris-invest-case-study-20Another Scary BiggerPockets Case Study About Morris Invest: https://www.biggerpockets.com/forums/52/topics/562268-turnkey-nightmare-with-morris-invest-indianapolisScary video of a Morris Invest property that was sold to an investor https://www.youtube.com/watch?

The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments(maintain your property, etc) - these simple steps will help you prevent lawsuits before they even occur.

It is simple.

Now, in the case of buying a triplex or fourplex in a cheaper market, we are thinking a turnkey property and saw some options that would give us about $450-$600/month positive cashflow.On paper, it seems the smart option is to buy outside of state and get that cash flow going but there's one important thing, we live in a 1 bedroom apt with a 21-month old girl, which means maybe we have 1 more year at our current place and we'll definitely have to move to a 2-bd place and rent will increase by $500-$1000. at least, so then, there's not so much difference anymore.I'd love to know your thoughts.Thank you in advance!