This means the roof, mechanicals, carpet, etc are going bad over time and you have to start saving for these on a monthly basis.Example: let's say your cost of roof: $10,000 Lifespan: 20 yearsReplacement reserve: $10K/20 years = $500/year or $42/monthYou can find out what your replacement reserves need to be by having an inspector give you the deferred maintenance items and estimate how much this will cost.Other than that, it seems like you have an awesome deal.

Does it mean, even mechanical liens doesn't hold?

I think that's why the business start-up failure rate is so incredibly high.

Usually landlords have PM's handle small items but any item over a certain amount landlord approval must be obtained first etc.For my units we would always replace the locks or the locking mechanism.

We don't have the resources to withstand a crop failure.

I agree with Jeff,Solo 401K is a great mechanism for investor.I opened one and rolled over IRAs and 401k from previous employers.

I say this to crystallize my goals, but I have ZERO real estate experience, having just discovered the business two weeks ago through reading a couple of Rich Dad books.I graduated from the University of Florida with my bachelor's in Mechanical Engineering, and have secured my dream job with XTO Energy in Forth Worth, TX.

I love the mechanics of REI and dealing with people (a cliche I know).

Taylor Green and Brady Hanna Here're my opinions:1) Yes, have them sign your lease agreement and follow your terms2) Yes, checks can be made out to what ever entity you state3) Do a new agreement all together4) Can't speak to this but I think the county needs to know via some mechanism.

Failure is not an option or us.