Money - forget it, but also math - they learn the mechanics for sure, but there is way too little about applying it in making the decisions in your life.I've taught my 10 year old the basics about how it works, and how the first property pays for our groceries, the second for our water and electricity, and so on, and how Dad doesn't have to work for those things anymore because we saved the money to buy the properties.

I just did my whole house a couple weekends ago with just water and took the mildew off the vinyl siding just fine.

From a cash flow play you have 2 units 1250 X 2 = 2,500 monthly X 12 = 30,000 gross incomeTake away 50% = 10% vacancy,30% operating and expense,10% property management.15,000 NOI per year at a 10 cap for resale is 150,000 purchase price.225,000 would be in the 7 cap range.300,000 would be in the 5 cap range.This is excluding immediate repairs needed to the property when purchasing.That would drive the price down further.For a cash flow play not that great but you can list it and see if someone wants to buy on appreciation.

If they fail badly, your furnace or water heater will be pumping CO into the home.

Penalties can range.#2, the penalty you seem to be referring to is the loss of the IRA's status plus a 10% penalty.

She owes $98,000 on her mortgage and her house is worth about the same, but she said it needs a new roof, new hot water tank, and new carpet.

The last three duplexes are ranging from 1.8 - 2.1% times have changed for the better.I should add these are the same areas we have always bought in.

This may vary by locale, but stuff in the $1M - $5M range is probably about right.

Jon, a clause regarding water damaged tenant possessions (and removal of them and other abandoned posessions) is something on my list to add.

If the market is glass of water, your asset value is the water.