Here is a link to an interview I had with my father. 

My father has been involved in commercial real estate for about 40 years and has shared some of his knowledge with me. 

My parents got divorced when I was in the 5th grade but he kept me in his life and tried to be a regular father that made sure I did certain things like going to and graduating from college. 

Bought our first rental property late last year- a vacant, second floor 2 BR, bank owned condominium. 

After closing hundreds of deals I can usually tell within the first five seconds whether the caller is serious and whether they qualify.

I'm second guessing some answers my CPA gave me recently and wanted to run the following questions by others who specialize in real estate accounting. 

Late last week the title company informed my realtor and I that the seller has a second lien on the house, and if unresolved, will not be able to sell it.The contract we used mentions a return of only earnest money if the title is not cleared.

@Mary Ann CaseyYou could put it all under 1 Umbrella Policy, but I think you would be violating the IRA rules with commingling your personal finances with your IRA...but I am no IRA expert.The maximum # of Umbrella policies would be 2.  1 covering all of the assets in the IRA Second going over your personal home and auto, along with all of the rentals.

Second is time; I have made the decision to work for myself full time and will put all my energy toward any deal I work on.  

I've heard I could take a second mortgage on the property as security for myself?