I flipped one house and built one spec house - which had to become a rental, although it is cash flowing $200 a month.But my one comment about your post is that you said that there were buy and hold investors who had enough cash flow to retire yet they ended up going bust.I don't see how thats possible unless they had more irons in the fire than just their buy and hold.

In the mean time, that vacant house will be scrapped, vandalized and possibly set on fire by a squatter crackhead.So you have a small chance of that 5th house producing income someday, and a very large chance that the house will consume cash to maintain and require tens of thousands of dollars in rehab to undo the damage done to it.There are thousands and thousands of houses in Detroit like this 5th house.

If I determine on the phone that they can't produce the tax records I'm just going to tell them I have to pass.A person with a "normal" job could get fired too.Either this applicant has verifiable income through tax records that can meet your income requirements or they don't.

The rental market is on fire.

Hope you won't be putting out any fires in real estate :-)If I can ever help you in Indianapolis or in the industry, let me know.

I see so many people start to look for creative financing as a solution to their own problems as investors and that is a sure fire way to NOT find deals.If your offers create value for other they will get some accepted, not all, but more than the average investor you talk to about creative financing.

Hi All,I've been having difficulty getting any offers for a dwelling/fire policy for a newly leased home in Ft.

It's been difficult to find a dwelling/fire policy.

I actually have a question too for @J Scott and @Sam Craven have either of you ever had a situation where you "fired" a buyer from your buyers listacting on the idea that there are always professional individuals you can do business with instead. like fire a bad customer???

You must first set yourself on fire.”You eventually have to go out and get that first property.