While I'm aware of the negatives, the positives are worth it: First, it's much easier to find a $350 renter than a $1350 renter, and second, most of the renters are on assistance from city, which helps place people there already.

If you $500/month negative cash flow means (mortgage payment-rent=$500) this will be much worse than you think.Will banks loan money if you have to make up the rent?

Has anyone had an experience in Minnesota where you were negatively affected by the law?

I only got into this to perform on my properties.

It is also true that the vast majority of newbies fail in a short period of time because they 1) pay too much for their property and lose a bunch of money due to the negative cash flow and 2) they don't understand how to deal properly with tenants.I look at each deal a person posts individually.

Here's an example:price $100,000down payment 10%, 10,000Amount financed $90,000Rate 6%Term 30 yearsPayment $539.60 (P&I only, your actual payment may include taxes, insurance, and PMI)payments made 24balance $87,721.41, 87.7% of original priceTo get the balance in this example down below 80%, you would need to make 89 payments, about 7 and a half years.

Well I only recently bought my first rental.

I only scanned thru it and have not read the whole thing.

I only have 1 of my early fights on the internet.

I only wish my Micro and Macro Economics professors had the insight and sense of humor this guy does.