If you find you have dug yourself into a hole... stop digging. - Robert Kiyosaki

The owner wanted $102,000, but we offered only $79,000. He took it immediately and agreed to carry back the loan with a 10 percent down payment.

An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket. This is really all you need to know.

The idea in anything is to use your technical knowledge, wisdom and love of the game to cut the odds down, to lower the risk.