After many years in real estate i can honestly say that if you get into buying real estate you NEED to have cash reserves.

I have two homes within a mile of my personal residence that are like that.

i am buying a home with an 80/20 zero down.when i sell my residence i will have @ 65,000 cash.i am wanting to begin a new career in re investing.should i pay down the loan or use the cash to leverage properties.i think i know the answer but would appreciate all ideas.

Any "fee" property management firm has the duty and responsibility to protect the property and welfare of the residents....sometimes this makes the property owners mad and they get upset.Individually itemizing the repairs may have gotten them to be less than your $100 threshold in your PM agreement; however, getting them all at once may really be your problem.

You get to exempt the first $250K for a personal residence ($500K if married) and you pay no tax *at all*.

Start saving, you're going to need a large downpayment and 6 months of cash reserves to buy your first commerical property.

I am a California resident so clearly investing in my own state will amount to a negative cash flow situation.

A few requirements include: a) the person must pay taxes on the property for consecutive years, b) the person must use the property for an uninterrupted, continuous period of time (varies by state), c) the person must be in posession of the property openly (not hiding or secretly posessing it), d) the person must have some kind of claim for the title.Given that the proper conditions are met for the state that the property resides in, a person can actually squat on another's property and gain it through adverse posession.Hope that helps.....

We have bought and sold homes as primary residences, but we are interested in Section 8.

In contrast, I have a tiny studio guest unit in my own residence in California that is being rented for $995 a month.