I have about 1/3 of my money in property and the rest in stocks and bonds, though I'm looking to make it more half and half.  :-)Good luck with whatever you decide! 

Pay particular attention to the part on BONDS, as a mortgage is essential a bond, ie; a fixed rate investment.Typically the PRICE of a bond varies inversely with interest rates.

While it is true that real estate values have taken a severe kick in the teeth as of late, investors utilizing a buy and hold strategy are still making money while the rest of the market is struggling.In order for this strategy to work, it's necessary for you to purchase property as inexpensively as you can and to ensure that the cash flow generated from your property is consistently more than the expenses associated with owning it.

Real estate has a much larger risk of losing more than you've invested than stocks or bonds.

Especially when I see what happened to others in the last few years who had most of their money in stocks and bonds.

Keep in mind, retirement plans are not limited to traditional stocks, bonds & funds, but may be invested into things like real estate and private lending transactions.If your wife's school district is providing a match, that is free money and you want to take advantage of that.  

Make sure the contractor is bonded and has insurance.

That said, what is better than bonding over a tile floor or with a paint brush?

Be sure you have an exit strategy firmly in place for every deal.Brush your teeth, shine your shoes, and tell your Mother you love her.

We still sign a contract, he would provide a receipt for all the disbursements, and he says his license, bond, and insurance will still take effect for the project.