Rob K Good stuff, rob. we have a weekly list of stuff she does for each day. she gets in the routine. we do have to remind her sometimes. the bedroom/bathroom is hit & miss.we also teach her about $. she needs to save as well. we're very fortunate - she's a solid straight A student.what you're doing for your daughters is priceless.

It could be one or more replacement properties and the amount needed to equal $655,000 or greater would be the purchase price plus routine selling/buying costs.

You don't want to come in and disrupt everyone's routines or you may find you are losing tenants.

Routine maintenance is roughly 10% of the rent pretty much everywhere.

The big national lenders have reputations for screwing up all the state-specific stuff on a pretty routine basis, which in addition to potentially screwing up your transaction, can actually harm the chances of your offer getting accepted to begin with. 

It's nothing fancy... just three pages outlining my vision, goals, criteria, etc... but it's given me much needed clarity. 

Don't get all fancy and start to buy useless stuff.

They are based on some fancy math calculation that apparently applies to the nation.

That's great that you have some income flow at this stage of your life and that you're looking to learn how to use it to build wealth instead of just buying a fancy new car.

While I don't think they will be destructive I'd really like to avoid the constant calls for minor, routine house maintenance.