Yeah, unless the feedback is particularly negative, I don't see much wrong with that kitchen.

At least we have recently cut the deficit in half, but is that enough to negate inflation?

Or, you will have a negative cash flow of about $250/Mo.: Rent - Debt Service - Property Tax - HOA - Management Fee - Insurance.

So even though it's nice to write off a lot just also remember that the potential negative income could hurt you depending on how much you make per year. 

3- Do I have the experience required to be able to be successful managing a business in general and a business of this type in particular 4- Do I have additional capital to see me thru tough times 5- Why is the seller selling 6- Has something changed or is about to change in the market that will negatively affect this business 7- About a million more questions too numerous to state In real estate investing, the beginner can often be successful.

I know some buy these types of homes for rentals but I know that they must have negative cash flow.

So, this investment is higher risk.A car has a well defined, albeit negative, return.

Perhaps, I'm not wording my question correctly.....I'm not looking for all the negativity & specifics about the golf course industry.

They have negative impressions of "investors" from their years of conditioning by their parents and the press.Once they decide to become and investor the psychology would include what makes them tick.

But, I'll reiterate one important point -- nobody knows where RE is headed in 6 months, 6 years, or 16 years; if you're break-even and 100% leveraged today, all it takes is a small drop in occupancy rates, a small drop in market rent or a small drop in market value to put you on the negative side.