Biting off more than one can chew in a first deal just because the numbers seem to work is a classic, tried and true, error.Have you ever been a landlord? 

This is true for all investors.

@Henish Pulickal that is very true.

True it is cash, and Coinstar will give you gift certificates to lots of places.

@Julio Velazquez, it's true people will always qualify you because they don't want to waste their time.

And if it is true and I follow this advice to reduce a property tax, I would think that I would lose Federal tax benefits related to investment properties.

But is that true?

Eric,You dont need cash all of the time, thats just not true. 

Success can be delayed if we get another 2009 style crash, but ultimately if your finances are solid and you can weather the storm, any house that fits those criteria will make you money.The people who get in trouble are speculators who overextend themselves based on assuming wildly inaccurate projects of the future will come true (ex.

@Chris TetiThat’s true, but there are ways to mitigate that.