hii'm really new with real estate investing. i havent even begun to own anything because i'm still reading n'stuff. but i have a question, and it could possibly be a dumb one, but i dunno, so bear with me. you buy a property and, you know, you have to pay your lenders over 20-30 years. but let's say after 7 years you plan you sell this property. do you still owe the lenders for a property you don't even own anymore?

And I sure wouldn't buy any more.Sorry to bear bad news, but I'm sure there are plenty of others to tell you you're doing great and to go get more like this.all cash

I understand that being a landlord isn't the easiest thing in the world but I *think* (remember I've never done this before) that the market will bear a rent ~$300/mo over the costs of mortgage, HE loan, maintenance and taxes and insurance.

Depends on the supply and demand of the building.Those requiring only $5000 down are typically construction loans where you would close up front, therefore bearing most of the risk.

What will the market bear and how strong is demand?

Could anyone tell me what my first step should be? are

Bear in mind that if a lawful heir ever shows up and wins title to the property, then he/she can demand any rents collected, or that would have been collected during your occupancy.  

Who should bear the costs of extending the road?

I am a new member, who while I am computer literate, I am not used to doing post, soooooo bear with me!

I hate long posts but please bear with me on this.1 - What do I have to include in the purchase or assignment contract so I do not have to pay one cent?