Debt with 10% or more interest will only drag you down.I think if push came to shove I would rather take money from my IRA and pay the tax (I am old enough, no penalty) versus using high interest credit cards for some kind of emergency.

This kind of thing typically doesn't happen in a vacuum.

This kind of investing still requires the kind of decision making and management that is difficult to automate.

. - What kind of job do you do now and how much do you make?

Since this kind of setups are new to us my first question is, is this usually nice places to live?

Forbes Magazine's own Ingo Winzer claimed a few months ago that this is time to stay away from the “inflated and sexy” markets and invest for long-term stability.

Well, you might be kind of missing a key point.

Figure out your long term goals and figure out what kind of property you want to have. 

I’m slightly confused on what kind of lawyer would be best for investment properties.

Yeah the margins are kind of tight, rent would be $1150.