Flip enough times and you will be able to do as @J Scott describes, which is funnel the profits into another investment vehicle that is a much more passive income stream.RE is attractive because the sheer returns can outperform just about everything you can think of in terms of relative safety of principal vs. rate of return.

If the food is good he is committed and from the area I think it makes sense.  

The neatest trick with the travel write-offs too is that you can write-off the per diem amount for the city rather than your actual food and such expenses.

This is, of course, food for at least another post .

I can really only speak for California but I tend to avoid anything older that June 15, 1976 for a variety of reasons from safety, quality of construction, finance ability, resale, etc.

As stated above, except for any food or drink you happen to order there is no charge to attend.

BUt to "TEACH" and take time away from doing my deals, putting food on my table to help others.. not so much.How long..

I would not do daily visits to collect rent because that situation could get ugly -- don't jeopardize your safety and sanity.If you don't get October rent give PQ notice and start eviction.

You only need to document the deposit for 60 or 2 bank statements.Open up a separate account for bills, food whatever.I hope this helps and PM me or post here if you have any other questions.

OH yes I get 7 to 10% on my notes and they are collateralized by rental houses.. so the DCR is insane its 2 to 3X  and two forms of repayment.. one tenant two the owner.not to mention owner has put 35 to 50% CASH down ... now it simply does not get safer than that. 600 notes in last 3.5 years total of 3 defaults which were quickly cured... talk about safety..