One thing that I noticed is that although the amount of increase is clearly stated at no more than 5%, they completely neglected to mention how often that one may raise the rent this 5%.Given the tone of this though, there's a good chance that a judge would find 5% increases in rapid succession to be problematic.

It's not clear to me how they just "take a percentage paid out on claims".

Thats going to be the biggest obstacle for you to overcome initially.But if you can start buying at a slow and steady pace now, you're going to be sitting pretty in 10 to 15 years as your portfolio will have grown.10mil in equity and 500k in passive income is not going to be easy though depending on the timeframe you're expecting to achieve that in and the amount of money you're going to have to invest over the years.If you can end up with a 10 million property free and clear, you will very likely be able to bring in 500k in passive income if not more.

(In general, of course, as indicated in this thread, there is no clear definition of "student").

Only 3 loads.Hope you clear up Joel!

Yet "quantifiable documentation" is not clearly defined.

Holding clear title to the asset that's earning is a good thing.

I did the same thing as an investor on properties I intended to hold for retirement, free and clear was the goal, the sooner the better.

If you cleared $5k I would be surprised and there is no way in hizell I am investing over $100k to make $5k.On a buy and hold, your gross rents of stated $1100 at best equates to $660 left over based on a 40% operating cost ratio (which is more of a better case scenario).

Does the seller own the property free & clear?