Because it costs a lot of money to keep this place up. This is a long-term investment since SS may not be there for me, so at least for right now, I'm holding on to it.<quoted text>
So, why can't you afford health insurance? Something doesn't add up here...
Most of the rent I collect goes to current or past bills. But if I can stretch it out until my retirement, I may not be doing bad by then once the mortgages are paid off.
My income fluctuates year by year based on what I spend on repairs, improvements and loss of rent because of empty apartments. But the truth is, with my income from work, rental income and expenses, I get a tax refund from the feds every year and sometimes from the state as well.
The problems is everybody who looks at people like me that have something going thinks we are rolling in money. There is no truth to that. You can add up the rents all you like, but then start to deduct the losses, and it's an entirely different story.