A week later, I had a massive second leak from the tub and again, the warranty had the original company come out and fix the issue.

The new development also includes 5-6 restaurants, retail stores, and a hotel.Purchase Price: $209,000, 2 bed 2 bathAll additional expenses (HOA, insurance, taxes, etc.): Approximately $500/monthI am confident I could rent this for no less than $1600/month based on local real estate.I am 24 years old and this will be my first jump into the real estate world. 

I want to go NOW, but I am still trying to wrap my blue collar brain around using massive debt as a tool.

The retail value of rentals makes it much easier to flip and "cash out" and buy 3 rentals in another market, if you choose. 

You cant sell retail if the buyer cant finance it. 

6% if retail is HIGH.

Masonry furnaces are fireplaces centrally located in a house that have massive amounts of mass around a long winding flue pipe.

For example, in my market I know that:Total gut rehab with both exterior and interior work will run me on average $60/ft for a rental and $70-$75/ft for a nice retail flipTotal gut rehab with only interior work will run $40/ft for a rental and $50-$55/ft for a nice retail flipCosmetic rehab for a rental will run around $20/ft (baths, kitchens, flooring, etc)If I look at a property older than 40 years and it hasn’t been updated in decades, it’s a definite gut job (have to tear everything down to the studs)Etc etcSetting up these “rules of thumb” will massively speed up your deal evaluation process, while preventing you from making costly mistakes.Go through this exercise one time and you will make massive progress in your ability to estimate repairs and value deals!"

Because successful businesses – the heartbeat of capitalism – have to offer way higher returns to compensate the entrepreneur for the massive amounts of risk they are taking.Personally, I love real estate and will continue to invest in it.

I just finished reading Chad Carson's bp blog post, "Why the Massive Real Estate Empire You Think You Want Won't Give You the Life You Imagine".