Of course, the word is out & it isn't news that there are good cash flowing opportunities here.

@Bret Middlekauff Well that's good news!

The good news is that you're generally buying a property based on it's financials.  

Here is the sad news.

There are several news article that say yes this is the facthttps://www.journalofaccountan...https://www.grandforksherald.c...I also did get an email from SBA about higher limits today. 

I don't want to be tricked into giving a house to a "Nigerian prince".Thank you

Good news is that SIMPLEs can also be self-directed, and a self-directed SIMPLE IRA would have the same contribution limits as a SIMPLE IRA at a more traditional custodian. 

@Frank KnippenbergA General Liability policy will provide defense for claims of Bodily Injury (slip and fall, ceiling falling on a tenant, etc.) and the less likely Property damage claim (your building starts on fire and the fire proceeds to damage neighboring properties).Good news is 99.99% of landlord/Rental Dwelling policies will automatically include General Liability.  

Paying off a primary residence and turning it into a rental, pay 1/2 of your current home off and refi to the lower mortgage and use the other $70K to buy another investment where you want, keep the rental if you want - the good news there are a lot of good options.Your goal is FI - the rental obviously helped you get there. 

The good news is that you have a window of time in which to rate shop if you're interested.