id=371Additionally, "FHA will not insure a mortgage if it is determined that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining investment properties, even if the property to be insured will be the only one owned using FHA mortgage insurance."

We'd probably want to tow a vehicle, but if your folks have a 5th wheel, they'd be all set.

Since I have a majority of my wealth in the stock market, I am seeking alternative investment vehicles which offer diversification.

I should clarify, their car had broken down and they needed a vehicle, they didn't go buy a new vehicle, they bought a running used vehicle.

@Sean HayesA 401k is a good retirement vehicle since the funds grow on a tax deferred basis; therefore, at least the minimum that will trigger matching from your employer should be contributed.

Also I do not have anything but old vehicles to drive to do the repairs.

If it's in your personal name then they can come after your personal assets such as vehicles, retirement, 401k ,etc.

If you are looking for tax shelter and protection of income at those higher levels, I think you are correct in that real estate may not be the best vehicle.

true wealth isn't determined by the amount of money you have in your bank account, it's what you do with it. having all that money vested in a single asset only opens you up to people wanting to sue you for the money you have. having other assets will increase your wealth, if you make a profit from each one, if you buy and hold and you do your math right, the tenants pay for the property and you make income on it. the real estate also becomes a tax vehicle to help diversify the income. you would rather be taxed at 25% on say a $2000 income on a paid off property, or taxed on $800 of income monthly because you borrowed money to buy other properties producing the same ?

One thing that worked for me building credit and a relationship with my local bank is pulling equity out of a vehicle.