Just got into the game of real estate bought a live in fixer upper by Prince George bc!

But it works, simplified, like if you owed $500 to CA but paid state XX $300, then you only have to pay CA the $200 difference.CA may not be able to get blood from a turnip, but they will suck that turnip dry before they let it go.Likewise if you, say, play professional sports for a team in state XX, live in state XX, make $20,000,000 a year, play 1 out of 20 games in CA, they want that 1/20th of that two million taxed in CA...but they will give a credit for the taxes you paid in state XX according to the interstate agreement. 

But if you have no other options, its a way to get into the game.

It's ok to make mistakes, you have to be in the game to win the game.

I know other property owners who have had mgt companies for years who only get paid when the rent is collected so I wasn't sure if this is still the rule or if Covid recently changed the game plan....

You can refinance these with 21st as well to pull your capital back out, but it's a much slower process.We're getting out of the used home game and going with new homes for the lower up-front capital cost and attractiveness to better residents.

It's all a numbers game, and the most successful investors invest in the markets where they get the best returns!

Lot of moving gears in this machine for you.

I don't mean to be too negative and of course, if you somehow could make the numbers work...well, this game is all about the numbers!  

It would also not work if you installed the valve where it would end supply to something else (ex. washing machine).