John C, You also made an excellent point on my need to keep up with may parent's finaces and be throurougly aprrised of all aspects.

Is there any harm in making a ton of low balls as long as you strategically contact one agent per week etc?

In looking long term, I want a property that will cash flow, appreciation should just be an added bonus at the end of the day.It seems like each of his rules could be applied to certain aspects of RE investing, but when you look at them with a blanket approach to all RE investing, they are very vague and don't really offer any true guidance.Just my thoughts.

Welcome to BP community @Art Pulphus  It is a great place to meet new friends and learn about various aspects of real estate and more.

You can either wait for time and the value of money to with inflationary aspects to increase value (which, BTW, your economic position may not be changing much) or you can force appreciation by identifying the potential of a property. 

My question isn't so much about competing with them, but rethinking other aspects of property management.For example -- it's 2am, and the tenant discovers a leak in the toilet.  

It's just that all the legal aspects and paperwork must be handled by the licensed realtor. 

Welcome to BP community @Andrea DeBell  It is a great place to meet new friends and learn about various aspects of real estate and more. 

Here's another article that keeps in line with the developments of AI theme..http://www.homefreeamerica.us/future-work-turking-...This article takes the view of massive disruption to the current work environment, but even if its only 50%, 25% or 10% true, there will be a large disruption to many different aspects of the economy as we know it.  

Welcome to BP community @Jesse Young  It is a great place to meet new friends and learn about various aspects of real estate and more.