I had been scared away from real estate rental investments due to horror stories of involving bad tenants, headache and on and on.

You must give the custodian an estimate so that they can file.You can do basic management.Saying the IRS will crackdown looks like a scare tactic or their saying its illegal while its not.

When I was 25 years old a 1/2 mil on a building with 3 units would have scared the heck out of me.

. :) I've been reading as much as I can and listening to a lot of Sean Terry's podcasts about wholesaling and I have some relations with people that I think I could get their property under contract and flip it to and investor, but I guess I'm more scared of the pitfalls of 1)Having something I could have to close on if I can't find a buyer(I know there should always be out clauses) 2)since I do have my realtor's license (but wouldn't be representing anyone) getting in lurch for what some people may say is a net sale or how wholesaling is "illegal" I guess is the real question I want to know is how do you go about getting over the fear of it and two how do you actually structure the contract.

"Oh, yes, they threatened us.. we called 911.. no one came.. there's no record of the 911 call.. no neighbors called 911 at all... we didn't call 911 again yet we're so scared we're asking you for security measures and can't sleep."

There are many new Realtors that you will scare off asking for them to do something they have not heard of.....

Scare tactics works best with losers…tell them if they mess up with your cabinets you will give birth to their criminal history… Not sure if that matters in your case …you did not do any background check on your tentant…I hope you don’t have Bilo the Rapist over there ;-)

At 66 lots of things happen some people want to move to a warmer climate and dont want lose strings attached or your health is another factor. the other things involve your estate and do you want your kids to have real estate to contend with or is this strictly your thing?

When we there my wife couldn't believe the prices of homes.Mortgages were 9%.I mean Adelaide is a small city in a state of a million people.Of course she was convinced it would be the proverbial bubble as we experienced here.So I kept track of pricing there & since we were there they have reported capital appreciation @ 15-20% in the city & 25-30% on the beaches.Minimum wage is $22/hr, free health care & the Sat morning job section was over 15 pages thick.

My goal with this cash flow for the next 10 years or so was simply to build equity and to help me pay for my dream home with my family that I hope to purchase next year and in case of job loss, health issues, etc I'd like a cushion to count on and I'm willing to sacrifice a little up front to get it.