The difference, unfortunately, between right and wrong is now a culturally derived and global influenced concept.

Welcome to BP @Nic Sherman Personally even if I bought one property I would  finance it at least to some degree to keep more cash for other opportunities that come up and unexpected expenses,

Your financial success is a long haul, and you've done a good job saving $60,000 so early and getting a degree and a good job.With all that said, I agree that a flip scenario is better right now.

@Robert Carl Many major cities have the types of issues you referenced in your post to some degree or another.

And I think that model worked well because I'm guessing the private investors were probably only a few degrees of separation away from you, and were starting from an initial level of trust because they were introduced by someone they trusted who had used you and got a good experience, etc..

I work in the area as an electrical engineer and in currently pursuing my masters degree at Hopkins.

I graduated from college and I got my degree and my broker license from there in 1980.  

Now I am a licensed NYS real estate agent as of June 2015 and will be graduating with a bachelors degree in International Business Management from Pace University. 

I recently finished my Master's degree in R.E. and traveled around the country looking at different markets and living environments. 

I teach 3 year olds and currently hold a business degree.