Since I am new to this business any suggestions and tips would be greatly appreciated.I am 56 years old and have made some bad choices over the years that have caused my financial outlook to be very bleak.

Hi Sylvia, what was some very important criteria for your choice of brokerage firms out there?

Also is REI a good choice at a young age if I'd miss out on the compounding of the stock market?

At this level of investing, there's a myriad of issue's you'll need to checkout before even considering if its a good deal or not, not least of which is how you'll do the basic due diligence on the property, what to look for, reports, loan information, insurances in place or coming up for renewal (inc previous claims), how to read the financial information you'll need to get from the owner, operating expenses, maintenance information, utility bills (types of utilities and how they might be improved for better returns), tenant rental contracts, what repairs need to be done right now, and also in 6 months time, appliances (do these have rental contracts, will they be passed on to the new owner, or can they be renegotiated or cancelled?) 

QUESTION: Last part of my reno is granite..Love your choice, what is the name of the slab?

It looks like either choice would be great!  

US IRS made the simple choice, allowing a 27.5 years depreciation.You might want to check out this website to get the right depreciation number: http://www.investor-realestate-accounts.com/, it is 1/27.5 if the property was in service for the full year.

Thanks and happy new year.Buying with all cash is a personal choice.

It is not a choice.

Success is a process, failure is a choice