I figured since we're talking about psychology here, talking about role models would be an important aspect of psych.

So we figured not having one was not causing us any competitive disadvantage.

Hey all - just found this and figured it would come in handy for everyone."

The engine will have problems in Your wife's car, tenants will move out in Your other rentals, prices will go up for repairs, hurricanes will come....blah,blah,blah....figure DOUBLE Your original time frame on repairs, ALWAYS.Figure 1/3rd higher costs than quoted estimates, BORROW accordingly.BE the BOY SCOUT.I have, I PREACH it to my borrowers/buyers/investors, & every operates under the "Be Prepared" philosophy;Do these things, & I doubt You'd ever have a "catastrophe".Trust the experts & LET them do their JOBS!

YOU DO NOT GET INTO HOBBY LOSS RULES WITH REAL ESTATE AND THERE ARE OTHER FACTORS FIGURED INTO THE HOBBY LOSS RULES AS WELL.

Interest rate on the loan is 6%.I figured it up and including all of the maintenance that I've put into the building I'm going to be about even for this year on a cash basis (I had to repair some flooring, doors, etc.).

if you compare them to the past 40 years, and figure for inflation you come out to a couple different conclusions.1.

So, I'm trying to figure out how I can take a self-study crash course on mortgages and finance principles before the instructor assumes everyone in the class already knows the basics :oops: .

Also, I plan on doing the property management/repairs, so do I figure a percentage for that?

You need to figure out a few things before people can start to give you some better information.