Evening @Lance Dengate,There are numerous threads on this here on BP. 

I'm out here in metrowest Massachusetts trying to get my feet wet in REI.

That being said, someone could slip on wet ground and get hurt.As a landlord it is your responsibility to remove any appearence of negligence on your part.

Cap rate is only a numerical thermostat to quantify what buyers in the market for a specific type of property are willing to pay. 

Maybe I will look into this once I get my feet wet a little more.

Super thorough, I’m just getting my feet wet and some of the things you’ve covered in here are great questions/advice.

There are numerous places where you can find out about local or nationwide auctions of properties where the foreclosure process is complete.Some websites to consider: auction.com, xome.com, and for HUD foreclosures, hudhomestore.com.One thing I like about HUD foreclosures is that they generally have already evicted the previous owner.

@Raj G.There are numerous benefits of contributing money to Solo 401k:Tax deduction, this plan allows contributions up to $61,000 per year per participant.

Hi Joe,I would start with a smaller multifamily (2 to 4 unit) to get your feet wet.

With that said, I have researched the path of being a bird dog which allows me to get my “feet wet” in the business without having a big marketing budget or actually locking up the home under contract.