The Donald has had numerous prominent business failures.

The Donald has had numerous prominent business failures.

Then some will have trouble-free tenants, maintenance free mechanicals, perfect structures, and great insulation - all of which allow you to pocket more loot.For more no-nonsense knowledge, read this great article: http://www.biggerpockets.com/renewsblog/2013/07/13/annoying-misconceptions-newbies-love/

The failure rate is around 80 percent even for those who attend real estate school.

Russell Collins (Rusty)Attorney at LawRusty Law, LLCA booklet put out by the CFPB (see page 20):http://files.consumerfinance.gov/f/201306_cfpb_compliance-guide_loan-originator-compensation-rule.pdfIf I were you, I wouldn't stress out about it too much, just have someone help you dot the i's and cross the t's, and basically do what all the regulations are trying to accomplish: make sure you're not setting the buyer up for failure. Fully

You should love what you do and I think owning is a full time job otherwise you may set yourself up for failure.

I don't mean to sound confrontational, but this is a horrible investment and a formula for failure!

Not to mention muni compliance liens and mechanic's liens.

Easements can be terminated by:-releasing the easement (holder of the easement releases their rights)-Failure of Purpose (the purpose for which the easement was created no longer exists)You can also terminate an easement by Abandonment, but the dominant tenant has to have put up an obstruction indicating they intend to no longer use the easement, and the obstruction needs to be in place for 10 yrs. minimum per state law.

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.