I told my wife today that we basically spent the last 6 months drinking from a fire hose.

If you have had these properties for many years, then a 1031 might make sense, but then you have the ownership issue to deal with; 1031 exchange rules basically require the owner of the replacement property to be the same as the owner of the relinquished property.

Residential properties change, neighborhoods change, homes become dysfunctional, market changes can take values down as well as up.There are very few 100 year old homes in my area that remain desirable today.Commercial can suffer similar issues.Always have an exit, there are aspects beyond your control that can effect a property, the trick can be when to bail out before negative influences arrive.There are several trusts that can be beneficial in holding good properties long term, just make sure there is flexibility built in to dump a property and move on to something else. :)

Thank you for all of your help @J Scott, @Kris Haskins, @Wayne Brooks As for the other people that were un happy with me tricking them with my header, I'm sorry BUT I'm not sorry, because it got me the answers I needed.

Basically breaks down to $.50 per sq ft per month.Location and price doesn't matter.

Start checking out the site, begin with the basics in RE and then to the niche strategies.

Basically my family and I are taking a "gap year" to decide what to do in the future as far as our profession.

So, I have a hard time understanding how it works with investors, I mean, what is the basic steps to pay them/pay them back ?

So the book basically turns that way of thinking on it's head.

I would be so grateful, nothing extra just the basic agreement to purchase, escape clause, assigntment of contract, and/or lead paint disclosure.