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RE: Should We Buy a Rental Property?
Good advice. I certainly agree that we wouldn't have any ROI until 7 years (at least that's what I calculated). My dad said the same thing about the money pit thing. Your both probably right. But those old homes seem to pull on your <3 strings.
I know I have bought a few. I have made a lot of money in real estate and lost some. The thing I always hated was the capital gains tax when I sold it.