Since I hadn't ridden a motorcycle before, I took a 5-day motorcycle safety course before getting my license.

A bit of an update.I am in the middle of a deal for 29 individual properties, 30 total units.As part of the due diligence I am using different tools to analyze the details.

As a tenant, I would do all I can to protect MY property and enforce the rules - I put them there for a reason (legal, safety, etc.).

Run the numbers through the Property Analysis Tool and see what it turns out.

I was at a RE seminar, they said the best strategy is don't have your name on none of the property's.In order to not get sued,and nor having getting tax like no other by the govt.They stated file your business as a coporation to take advantage of the tax ductions.Then Form a "Family Liability Partnership",and you make your coporation as a partner.To keep yourself seperated from such law suits,and such.Also do this chairaty thing,in order to not get capital gain tax.Another thing I'm asking is before you buy any property for a rental investment.What's your margin of safety strategy you use on all property's that will give you indicators to buy the property or not?

The world revolves around income and wealth is only a tool, it doesn't pay for groceries for long.The investment of Real estate is in owning real estate and having tenants cover your expenses.The income of real estate is self employment.

The 2% is just a screening tool and I always also consider the cash flow and equity.

I'm using this flip as a learning tool, to get more knowlegde of the whole process.

One of the things they said they used as a networking tool was a forum on their website where investors can swap ideas and what not.

Let me *try* to clear up the difference in opinion here, at least as I see it...It sounds to me like MikeOH and Bryan are arguing the same point, but their actually talking about two different things, and both things are tremendously important.I think Mike's point (and if it's not, I apologize) is that the "50% Rule" is a great tool for a first-pass approximation of whether an investment is likely to be a good deal.