I remember being 16 and a convicted bank robber (1 month after this encounter) tried to fool me by pushing a stack of money orders into my chest and saying "take it it's all there" get outta here. 

Tracy,Remember, the Insurance coverage should be in the name of the entity that owns the property (that is on the title).  

Remember w-2 income can definitely help!

My kids can deal with that "lucky problem" some day.From my perspective, use a good PM and the only headache you have is remembering to enter the direct deposits each month!

Late fall of 08, picked up a 3/1/1 in a decent lower middle class income neighborhood. paid 50K, put about 9K in repairs (did them all myself which took too long but I learned a lot), used hard money for purchase and repair (don't remember the terms now), refinanced and rented out in the summer of 09, same tenant lived there ever since and has verbally committed to 3 more years.

You also need contractors who are licensed to do the work for something like that (if I remember correctly).

Remember you can do a master lease with the first right of refusal to purchase after 5 years. 

I remember my go-to-guys eager and hungry for business, now say they have larger projects or just don’t care.

We had something like 30 days to close with a 30-day extension (can't remember).

LOL I don't remember.