As much as I would love to fix and flip homes, the reality must be assessed.

There really is no way around that from a reality perspective but you can apply an multifamily approach to 10,20, 30, 100 SFRs to mitigate those risks and negatives.  

In all reality I probably should just find a new agent who isn't skilled in sfr only and get someone who works more with real estate investors.

Hi @Debra Mittleman,1: No2: Yes3: Most likelyIn reality you MAY have been able to get away with telling her to use her renters insurance or some such.

The problem is that this site is filled with ALOT of new investors trying to learn the business and not lose their shorts and when seasoned investors describe their deals in that fashion it not only gives misinformation and a false reality of how a deal works, but could also potentially drive a young investor who is anxious to buy their first deal into a losing situation.

If you don't have a job, maybe you should keep some cash on the side but in reality, the rent money will become your salary.

I usually use the Oreo approach... say something good about the guest, then the reality- stick to facts, then something positive again.They reserved the place for 4 guests, but actually had 5 stay there without clearing it with you to do so?

Hands on investments" may have an element of risk, but being involved with friends and neighbors yields greater rewards than just ROI.Prudent loss management decisions and using professional risk underwriters can lessen the reality of exposure to financial risk.I applaud your personal actions and encourage you to be "a different kind" of financial planner.  

usually I like to be the assshat that blasts people back into reality when they think they know more than they do but you definitely are headed in the right direction and are asking the right questions and so I'll offer advice. you are correct in working up your credit and saving for a downpayment.

The time has come for me to take my part time dream to a full time reality of being a successful investor so here I am!