Also, he lied about 3rd floor tenant, said he had taken care of it but was trying to sneak her around the appraiser, eventually he did remove her and it was fine.I should have ran but I didn't because I was trying to make my first investment go through, and as weird as he was I just thought as soon as this sale is over I don't have to deal with his crap anymore and can fix the place UP and enjoy it.So money wise it's not a million dollar property, but it was to me, I don't make a lot of money and have lived way below my means for years, kept debt to a zero and saved and suffered for years to be able to put a proper downpayment on something like this.But I did pay for an inspection, paid my realitor fees, my bank fees, got an appraisal, title search, put notice on the place I was renting and moved out, all my belongings are in storage and now I have no place to live.

Ideally, each month a portion of rent paid goes into the reserve funding category, because as a system ages, you are getting closer to the eventual day of replacing that system.This next thread has an approach used for calculating reserves:http://www.biggerpockets.com/forums/432/topics/86771-fourplex-analysis-help?

If it's on public street the police will ticket and eventually tow.

But if you're taking big risks to get small returns eventually a certain set of circumstances will come along that will cause catastrophic losses.I would urge you to research on this sight for something called the 50% rule.

We want to make enough to be free to move back and forth between the two countries and eventually retire and live off of the passive income.I found the BP podcast about 10 days ago and I think I have listened to most of them.

If you are a good landlord keeping properties in good condition the municipality will smile on you, if you aren't and turn into a slum lord, eventually you'll have issues and difficulties.

The other issues aren't as pressing as long as you are paying their water bill and don't mind the damage that will get done to it, with possible eventual mold remediation.

No body can eventually force you to buy something you dont want.

At that point, you do need to live in at least one unit, but you can house hack (do a search here for house hacking) and eventually rent out the unit you live in.

Eventually, it clogged into a giant ball further down the line and my landlord had to remove the toilet and snake out the line.