As a GA pilot for +40 yrs and current owner in a partnership with (2) others on a PA28180, my comments are;
1. Fly at least 100 hrs/yr, if shared ownership or +200 hr/yr if owned outright.
2. Be instrument rated.
3. Be able to make decision to stay on the ground and miss that important meeting or not get home when planned, when the Wx is forecast to be below your personal minimum.
4. Plan on doing preventative/light maintenace (ie oil and filter changes, etc).
5. Be prepared for the unexpected repair. Our stall warning switch just quit and Piper's cost for a replacement as of 6/1/11 is $1,906. I was lucky and found a salvaged one for $175 and was not happy with that price either. A $15 micro switch with a $15 sheetmetal mount and engineering cost from 40 yrs ago!!!! At least I can install it myself.
I am an A&P and do all of our maintence and our hourly cost wet is still $85/hr basis 100 hrs/hr.
