utm_source=search&utm_medium=internal&utm_campaign=booksSimply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

You have all talked me out of buying a carport now.Cynthia - Thank you for the relevant decorating advice.

@Marcello OliveriHello, not certain if this is still relevant.

But, @Jay Hinrichs recourse is relevant, as if the loan is non recourse, there's no personal liability, and as per the IRS there is no 1099 or taxes due for forgiveness.  

Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessREI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.http://www.realestate.com/advice/buying-your-first-investment-property/ However, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

utm_source=search&utm_medium=internal&utm_campaign=booksLastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

This topic is really relevant to my interests as a prospective investor. 

.- If you want to factor in your equity/principal paydown to ROI, you can do a return on equity (ROE) analysis:ROE = Cashflow / Equity (again, typically over standard period, like one year)- I also like using IRR to model long-term holds -- this number is typically more relevant to what landlords are trying to accomplish (compounded returns vs simple returns and factoring in when the money goes in and comes out). 

Otherwise year lease.and @Brian Gibbons thumbs up for linking relevant law to the texans on lease option issues and for conveying the alternative method!

Is the information actually relevant?