So no one is for paying off debt - we're talking car loan, personal loans, old school loans...etc?

I didn't even graduate from high school and I've already made millions in realestate.

I'm leaning toward going back to school myself.But getting back to the topic.

There is no local job base (mostly retired residents), no shopping, schools etc.

A major key in that market is the new hospital and dentistry school.

New hospital which is bigger than most hospitals, new dentist school (biggest in state), etc...If you cannot find a tenant occupied existing duplex, either build one or buy existing single family homes that are easy to rent.

I didn't mention that the home is in a decent, established neighborhood, in a good school district.

They paid $4,600 for the 80 acres and bought it through a trust fund, the land was owned in massive amounts by some school or something like that.

Then I'll leave the rest in my company's account to show as reserves to borrow money to buy some manufactured home communities and some apartment complexes that'll give me positive cash flow each month and just keep building wealth that way without having to use my own money.Most importantly, I'll make sure that I have an excellent tax strategist/financial planner on my team to make sure that I don't lose as much in taxes.Once I'm generating enough cash flow each month from my holdings, I'll travel the world with my family then settle back down when the kids start going to school.

Blind belief in some magic ratio takes on a religious fervor!