We typically put more hands on effort in but that means:552,000 * 10% = 55,200/year.Be careful when researching.

I was just about to go online and find the local REIA, but I came to BP first and because I set up a key word alert for "Miami" your question popped up.I am very much in the same phase of this cycle as you are: researching and educating myself on the basics of REI.

The purpose of starting this thread is to hold myself accountable and to get support from the members here at Bigger Pockets because I know how much you guys love to help.I've done hours and hours of research and listened to just about every podcast imaginable (Sean Terry, Todd Toback, Mark Whitten, etc. and the list goes on) the only thing left is to take action and sustain it this time.

I also look at it as a retirement supplement.Exit strategy is also a biggy...so much easier to sell a SFH.I love seeing a family move a TON of belongings into the house...No way they are in a hurry to move all that stuff anytime soon.I have not ruled out duplexes...still doing some research into the idea.

I have been researching alot and listening to alot of podcasts and I am really looking into taking this opportunity to build wealth and success.I am currently a 22 year old senior in College I plan on graduating with an accounting degree this upcoming December.

I like to think crawl with action because I tend to get stuck in the idea/research stage.

In order for you to research this you can simply go to public record and see what is recorded or ask the title company to send you the abstract for the title commitment and the supporting documentation.

If you choose not to this may invalidate any future insurance claim-Take a deposit of one month's rentI actually rent out a room in my own home and have had no problems though I did a lot of research before starting.

You should research the 50% rule.

You may want to find a real estate or consumer attorney in your area and have that attorney research the law for you.