There seems to be alot of fear and misinformation, which may help keep some brokers strictly on the retail side while avoiding real estate investing.

Yet... don't we already know that institutional lenders as well a mortgage companies are not lending now and have very strict guidelines.

Everything else - the inevitable routine maintenance, the occasional serious maintenance, vacancy, legal and CPA costs are all out of pocket.

Most major lenders and GSE's are now using this language in their documents (such as the Well's Fargo and BOA Affidavits).2)As far as Watson being a so called guru I don’t know about that but he is however nationally known as one of the best short sale lawyers around and routinely called upon buy title companies for legal advice and guidance when it comes to properly closing these transactions.

I look at what is my biggest expenses and routinely spend time trying to figure out a way to save without sacrificing too much of my time or the tenants.I self manage all my properties and place all tenants.

You can pay yourself a "reasonable" salary and then other distributions are taxable strictly as ordinary income.I don't know why you would need both a tax attorney and an accountant.

In Colorado they are very strict about deposits.  

In my area we do simultaneous closings routinely.

It's strictly business for real this time.

“wholesaling” watched lots of seminars for how to be wholesaler and associated your perspective strictly with the spectrum of wholesaler.When in reality better approach could have been associating your mind with spectrum of simply being “real estate investor” and leveraging what Rick defines as...