@Larry Cersosimo,It is not possible to use your 401k as collateral for the loan, IRS specifically prohibits this. 

All advice is much appreciated. helping me make my decision. mostly thinking about 5-6 until apts building somewhere for 12% cap rate or possibly higher. 

I charge $30 for the entire thing, so it's certainly not a money maker.My policy is that application fees are not refundable, period.

Focusing in on your intro is that you are interested because it is a busy market - basic human instinct and it is not entirely wrong. 

I know people say not to accept tenants if they have no active income, but this is a medium-term tenant who would stay 3 months and they can pay the entire 3 months upfront.

It may be possible for you and your dad to both 1031 your respective interests. 

Basically, i think all i need to close the door the Bedroom to the kitchen area, add an exterior door, add kitchenette, and possibly add its own electric panel.

My boyfriend and I are moving toward renting out our townhouse in Gilbert, AZ in June and want to get as prepared and knowledgeable as possible.

Here are some of the types of “wanna be” investors who never seem to be able to “pull the trigger:”The Organizer – This individual can’t seem to ever get fully organized - and until they do they can’t possibly make a purchase transaction.

Develop a budget that accounts for possible investment costs, save for a down payment, and build up solid credit.Establish relationships with mentors, real estate experts, and other investors.