Mooney Ownership - Cost, Options, Insurance and Corporate America for a 37y/o new pilot

[SilentT]

15 minutes ago, KSMooniac said:

There is a lot of wisdom on this thread.  I applaud the dream scenario you're pursuing here...I would love to fly myself on work trips regularly.  I'll echo Lance's thoughts on the insurance question.  First and foremost, fully run-to-ground your existing umbrella policy and make sure it would cover your proposed activities.  You might even want something in writing, in fact, if you (and your employer) are counting on it should something go sideways in the future.  I too would be shocked if you're covered.  (and if you are, please let us know who wrote the policy!)

Secondly, I would not get too wrapped up with your hull insurance costs in Year One.  It will suck.  Badly.  The market sucks now for GA insurance, as Parker will explain.  Assuming you proceed with getting your dream 252, just know you'll be paying a bunch in the first year.  Get transition training from an expert Mooney instructor first and foremost.  Fly trips, perhaps one or two with an instructor.  Get the instrument rating as soon as you can too.  Year Two of insurance will be dramatically better.  You can buy a starter plane to build time, get the IR, etc, and sell it later and save a few grand on insurance, but the transaction and ownership costs of doing so will likely far exceed the insurance savings in the near term.  And you'll still have a higher rate without Mooney time to help...  For reference, way back in 1995-96 when I did my Mooney transition training, our college flying club required 125 hrs TT, and 10 hrs of dual.  We also had a caveat to have a mini-checkride with a "senior Mooney CFI" in the club to make sure the training was good since we had several young/low-experience CFI's building time.  That policy served the club very well... until it got reduced to 5 hrs and no mini-checkride.  Someone totaled the plane in a balked landing/go-around attempt at night after a very long day of travel and activity.  Lack of judgment and skill trying to get home...

I would not go without hull insurance or under-insure a good airplane as the risks are too high, even with your plane parked on a ramp on one of your trips.  A freak hail storm got me away from home a few years ago because I assumed the FBO was attended 24 hours (big city metro airport) and could move me inside.  Nope!  Someone can run into your plane with a ground vehicle or another plane, as happened to a member here several years ago.  Excrement happens.  Don't put your house or all your savings at risk for things out of your control.

Back to Lance's input... rates are high for new pilots for a reason.  And he's right about flying for business on a schedule adds to the risk from an insurance POV.  Putting a new pilot in a complex and capable plane AND flying for business....that has got to be peak risk.  Just know that going in, and with all of the analysis you've presented to date, I would assume you're conservative and cautious generally, and that goes a long way to keeping you alive.  There are a LOT of incremental steps to take before you're able to do what you want, safely.  Flying on a schedule to meet a customer adds a ton of pressure, as does wanting to get home to your family.  Doing that after several days of work, perhaps going at night, maybe with some weather... risk adds up quickly.  Any Mooney is capable of changing time zones and passing through multiple weather systems easily, and you'll want to have the skill, experience, and attitude to do that safely.  Will your employer and family be flexible with YOUR schedule if something is too risky?  

You have a lot to consider, as you know.  I hope it works out as you intend, because a 252 would fit perfectly (so would a J, for that matter!) and could wind up being a forever plane as you wish.

Thanks for the feedback. Yes, I didn't really address schedule. I have on many occasions booked commercial 3 days out because unfavorable weather. I also can go a day or two early or stay a day or two late. Flexibility is what makes it work. Work loves when I leave home early and get home a few days late to boot! I was reflecting on Lance's position. Maybe look into an older F with some upgrades I think Gmax has one at 100k, and build some time and come back for the big boy plane later. The real issue is not the cost, I can afford it. Its the hard upper limit of 180 on a plane likely to cost 225. Not a number avemco wanted to play with.

[SilentT]

18 minutes ago, LANCECASPER said:

First year you are catching up on deferred maintenance. Anything less than $10,000 would be a pleasant surprise the first year of ownership. 

If K model Mooneys were sold new today they would be at least $800,000, probably more. So if it was new it would be maintaining a nearly million dollar piece of equipment. Add to the equation that the last K was made 26 years ago (Encore) and the oldest 252 was made almost 40 years ago. Now you're maintaining a roughly 30+ year old piece of equipment whose replacement parts are very expensive and sometimes hard to find. It can be challenging. If the mission means that dispatch reliability is the highest priority, getting an airplane that's still in production might make the most sense (Cessna 182, Cirrus, etc)

Dispatch priority isnt the end of the world. I just go book commercial if it looks bad to fly 3-5 days out. The priority is flying my dream plane, and letting someone else help cover the costs!

[Ragsf15e]

16 minutes ago, SilentT said:

Thanks for the feedback. Yes, I didn't really address schedule. I have on many occasions booked commercial 3 days out because unfavorable weather. I also can go a day or two early or stay a day or two late. Flexibility is what makes it work. Work loves when I leave home early and get home a few days late to boot! I was reflecting on Lance's position. Maybe look into an older F with some upgrades I think Gmax has one at 100k, and build some time and come back for the big boy plane later. The real issue is not the cost, I can afford it. Its the hard upper limit of 180 on a plane likely to cost 225. Not a number avemco wanted to play with.

A J makes a nice forever plane too, so don’t exclude that.

[MikeOH]

Lots of good comments above.

Here are my comments (some repetitive):

1) I'm REALLY skeptical that your umbrella covers GA.  Be CERTAIN of this!  Also, make CERTAIN it applies for BUSINESS flying!  Further, most umbrellas require MAXIMUM limits on the underlying liability policy limits; not sure what that means for aviation liability?  $1MM? or, more??

2) Will you be flying co-workers?  Be VERY careful with this one; your employer needs to be on board with this as THEY will be exposed to liability for your negligence.  You may also run afoul with appearing as a commercial operation since your company is paying you back.

3) Not sure where you will be flying, but it sounds year around and of sufficient lengths to involve weather on MANY trips.  Without an instrument rating I think your dispatch percentage is going to be VERY low.  Worst case is you make it to your destination and can't return due to weather.  Sorry, but you will be a low-time pilot without an IR...this is a classic recipe for get-home-itis that can end badly.

4) All in, my costs for my F model are between $14K and $18K per year for roughly 75 hours/year; so, $185 to $240/hour.  But, my insurance runs under $2K/year, but only $80K coverage.  Point is, even if your other expenses were similar to mine you can likely add $4K to my numbers.

Sounds like you can swing worst case financially...however, the insurance situation is sending you a safety warning message, please tread lightly when ignoring it.

[SilentT]

4 minutes ago, MikeOH said:

Lots of good comments.  Some are repetitive, but here are mine:

1) I'm REALLY skeptical that your umbrella covers GA.  Be CERTAIN of this!  Also, make CERTAIN it applies for BUSINESS flying!  Further, most umbrellas require MAXIMUM limits on the underlying liability policy limits; not sure what that means for aviation liability?  $1MM? or, more??

2) Will you be flying co-workers?  Be VERY careful with this one; your employer needs to be on board with this as THEY will be exposed to liability for your negligence.  You may also run afoul with appearing as a commercial operation since your company is paying you back.

3) Not sure where you will be flying, but it sounds year around and of sufficient lengths to involve weather on MANY trips.  Without an instrument rating I think your dispatch percentage is going to be VERY low.  Worst case is you make it to your destination and can't return due to weather.  Sorry, but you will be a low-time pilot without an IR...this is a classic recipe for get-home-itis that can end badly.

4) All in, my costs for my F model are between $14K and $18K per year for roughly 75 hours/year; so, $185 to $240/hour.  But, my insurance runs under $2K/year, but only $80K coverage.  Point is, even if your other expenses were similar to mine you can likely add $4K to my numbers.

Sounds like you can swing worst case financially...however, the insurance situation is sending you a safety warning message, please tread lightly when ignoring it.

No passengers just me and total flexibility in schedule. The timing was convenient as weather is generally improving and would get IR this spring / summer. Flight is Midwest to Midwest, Indiana to Missouri. 

 Cost is manageable. Appreciate your numbers. My issue is insurability, I don't mind paying the 6-9k while I build time, I need to find someone who would have just a hair higher hull limits. 

 

[Utah20Gflyer]

I would personally suggest getting your instrument rating before buying the Mooney because owning an airplane is a part time job and will likely make it more difficult to get the instrument rating over renting a plane.  I know this from personal experience.  Also with your instrument ticket and more hours your insurance rate will be better. 

There are a few people here who encourage people to buy their forever plane early, I’m not one of those people.  I think a high performance and complex airplane like the 252 is too much plane for a newer pilot.  I don’t disagree that it’s possible to do it safely but there is also a lengthy track record of low time pilots killing themselves in high performance planes.   When you are a new pilot it’s easy to get task saturated and a plane like a 252 has a lot of extra tasks,  especially when flying single pilot IFR.  

There will still be 252s around a year or two from now.  

 

 

[SilentT]

4 minutes ago, Utah20Gflyer said:

I would personally suggest getting your instrument rating before buying the Mooney because owning an airplane is a part time job and will likely make it more difficult to get the instrument rating over renting a plane.  I know this from personal experience.  Also with your instrument ticket and more hours your insurance rate will be better. 

There are a few people here who encourage people to buy their forever plane early, I’m not one of those people.  I think a high performance and complex airplane like the 252 is too much plane for a newer pilot.  I don’t disagree that it’s possible to do it safely but there is also a lengthy track record of low time pilots killing themselves in high performance planes.   When you are a new pilot it’s easy to get task saturated and a plane like a 252 has a lot of extra tasks,  especially when flying single pilot IFR.  

There will still be 252s around a year or two from now.  

 

 

Thanks for the perspective, the idea also was to learn and train in the Mooney. Rather than the clapped out 152 rental with limited avionics. 

True on 252 just looking for cheaper options as well. 

Edited February 28, 2024 by SilentT

[dkkim73]

23 minutes ago, Utah20Gflyer said:

I would personally suggest getting your instrument rating before buying the Mooney because owning an airplane is a part time job and will likely make it more difficult to get the instrument rating over renting a plane.  

I would respectfully second this. 

The instrument rating is IMHO the completion of pilot training. And these really are IFR airplanes. Having recently acquired my first plane (thanking God again now for that!) I have to say ownership is a surprising amount of time to do well, and I've had great help. 

Not to say you can't do it all, but segmental stepwise optimization might be the big win here. 

A solid instrument foundation can't be a bad thing...

Good luck!

D

[dkkim73]

27 minutes ago, SilentT said:

 Rather than the clapped out 152 rental with limited avionics. 

Worth finding a good IFR trainer. I had some club archers and warriors that were solid, with 430/530 stacks and classic gear, inexpensive... a while ago.

Worth finding a good accessible, rentable reference platform IMHO. 

Make a generic version of your checklist, then adapt to your new Mooney when the time comes.

D

[Utah20Gflyer]

27 minutes ago, SilentT said:

Thanks for the perspective, the idea also was to learn and train in the Mooney. Rather than the clapped out 152 rental with limited avionics. 

True on 252 just looking for cheaper options as well. 

Yeah, I get what you’re going for but let me give you an example of why renting can be more efficient than owning. A couple weeks back the oil change came due for my plane and since I work really hard during the week the only time I had time to do it would be the weekend. So I didn’t fly the following week and then did the oil change over the weekend and then didn’t have time to fly again until the following weekend.  Yesterday I was at my plane updating databases after work but the GI 275 database update failed and so I’ll need to go back tomorrow.  Last weekend I spent an hour under my plane cleaning oil residue off the belly.   I flew a little that day (to do a VOR check) but spent more time cleaning than flying.  
 

I still need to send off the oil sample from the oil change and need to cut and inspect the filter.  I’m trying to arrange a prop ECI inspection in the next week or two to clear an AD and am starting to prep for an annual in a month. I’ve got to research parts and order them as well as coordinate that with the mechanic.  Like I said, owning a plane is a part time job.  I also have a full time job to pay the bills and a family that needs attention.  Add some training and it’s pretty difficult.  
 

I’d like a partner just so I could split all the plane work.  

[donkaye, MCFI]

A few more thoughts:  While getting my 25 hour (recommended by Lycoming) $350 oil change today, I was talking to Mark who said getting parts not made by Mooney, but required to go through Mooney, are becoming nearly impossible to get.  This is because he says Mooney will not buy externally sourced parts any more.  They even offered to prepay for the parts and Mooney said no.  Nobody understands their reasoning.  Mooney is still making parts, but that is all.  Expect parts to become nearly impossible to get for our airplanes in the future --- and the future is now.  Regarding Annuals;  the Mooney Maintenance Manual for my airplane says it should take 31 hours to do a proper inspection, and that only includes the inspection and not the repairs.  My inspection alone last year was over $4,100.  Go to a none Mooney Specific shop?  Cheap for a few years, and then "Pow!!!  There was a plane in the shop whose owner had done just that and it had over 120 discrepancies.  Neither Mark nor the Owner were happy campers.  The repair estimate was jaw dropping.

Not withstanding my comments above, I can't imagine NOT owning an airplane.  And the only piston one I would want is a Mooney.   I've have mine going on 32 years and the adventures I have had with it have been amazing.

If you want to sleep well at night, my recommendation has been to have no more than 10% of your net worth in your "toys" including airplanes.  With that allocation you should be able to handle any unexpected expense that might arise, and believe me they will arise.  It may seem comforting to do a pretty analysis as was done above, but expect it to be blown out of the water in actual practice.

Regarding flying for business, AOPA came out with a new Webinar that would be useful to the OP and everyone else.  

Here it is: https://bit.ly/alc-1093

[SilentT]

4 hours ago, donkaye said:

A few more thoughts:  While getting my 25 hour (recommended by Lycoming) $350 oil change today, I was talking to Mark who said getting parts not made by Mooney, but required to go through Mooney, are becoming nearly impossible to get.  This is because he says Mooney will not buy externally sourced parts any more.  They even offered to prepay for the parts and Mooney said no.  Nobody understands their reasoning.  Mooney is still making parts, but that is all.  Expect parts to become nearly impossible to get for our airplanes in the future --- and the future is now.  Regarding Annuals;  the Mooney Maintenance Manual for my airplane says it should take 31 hours to do a proper inspection, and that only includes the inspection and not the repairs.  My inspection alone last year was over $4,100.  Go to a none Mooney Specific shop?  Cheap for a few years, and then "Pow!!!  There was a plane in the shop whose owner had done just that and it had over 120 discrepancies.  Neither Mark nor the Owner were happy campers.  The repair estimate was jaw dropping.

 

See this is the scariest part for me. Not being able to find parts. The 4k inspection sucks but it's part of it,  but not knowing if the next issue is non-repairable... 

[A64Pilot]

A turbo retract anything is WAY too much airplane for a newly minted Private Pilot, there is a reason insurance is so expensive, odds are good it won’t end well.

A newly minted Private Pilot has shown the min proficiency required to safely operate a simple aircraft in pretty VFR Wx and that’s about it, it has to be that way if the training required complex proficiency in hard IFR very few would complete the program, too much money and too long to complete.

Take a look over at the accident thread, see how many are from new owners, much less new pilots.

People like to throw out there that the Military trains in complex aircraft, but having gone through that training it’s nothing like Civilian training or it wasn’t almost 40 years ago, so yes it possible to start in a complex aircraft and it helps if it’s your total job and you spend nearly a year doing so at 10 plus hours a day 6 days a week. You live, and breathe flying all day, every day. We weren’t necessarily better or smarter, just we were immersed and very highly motivated.

Find something and rent it for the first 100 hours, get your Instrument rating and more importantly become proficient at it, once you get the Instrument every flight should be IFR. So you delay your Mooney purchase for 6 months, is that too long to wait? If your dedicated you can get 100 hours in six months, going to require funds and dedication though, lots of work.

Most training other than Civilian recreational trains a competent Co-pilot who then flies for significant time with a more experienced PIC and continues to learn, it’s mostly only recreational pilots that on completing the Private are turned loose by themselves

[A64Pilot]

2 hours ago, SilentT said:

See this is the scariest part for me. Not being able to find parts. The 4k inspection sucks but it's part of it,  but not knowing if the next issue is non-repairable... 

That’s the ugly truth in my opinion for most all GA aircraft, but especially a Mooney. I’m an old IA myself and while I can make many parts, some like gear actuators I just can’t, even something as simple as a no back spring is a show stopper.

I think Mooney still existing as a company may be hurting us somewhat as maybe it’s keeping companies that manufacture under PMA parts for other antique aircraft from making parts out of respect I’ll call it. Most Mooney’s are antiques whether we like to think that or not, to the FAA all Mooney’s are. That’s pure speculation of course but I think something is keeping Univair and others from making parts.  I’ve not had any problem getting parts for my 1946 Cessna as an example or for that matter our 1923 Ford Model T, but the Mooney it’s getting tough, and many or most IA’s are wary of non Mooney parts even though they are identical but don’t have the Mooney part number.

One neighbor backed into another’s Bravo tail with their car, it’s likely he will be without the aircraft for a year or more and the person performing the repairs will have to come here and live to conduct the repair most likely as transporting a Mooney by truck is a whole lot more work than it is for many aircraft, parts will of course have to be fabricated or come from a salvage aircraft. Back in the day it would have been fixed with new factory parts or scrapped in a month or two.

I don’t know what the future holds, I’m pessimistic, as an old Helicopter pilot that’s my nature.

I think if I were a younger man and was honestly looking for an aircraft that I was hoping to keep for 30 years or something I’d look for a Cessna or Beech as I think it’s likely those companies will still be in business for the foreseeable future as Beech builds the King air and 1900 etc and Cessna has a successful line of bizjets, and being an old guy I just don’t like plastic, or maybe Experimental. Only reason I’m not flying Experimental now is I’m an IA and the benefits aren’t as great.

4K is really nothing for an Annual, for a comparison I have a Motorhome in the shop right now with the oil cooler leaking coolant, cost to R&R the cooler? $4K and that’s at a private shop not the factory engine shop.

[Shadrach]

53 minutes ago, A64Pilot said:

I’m pessimistic, as an old Helicopter pilot that’s my nature.

This sentence made me laugh! When I look at all the components of a helicopter, I would think that every flight requires a considerable degree of optimism.

Things are tough all over. I’ve an acquaintance with a Beech that had a gascolator spilt (water in gascolator turned to ice). Beech would make the part for something like 12k. Thankfully  he found salvage. I think you may be right that the factory is preventing the aftermarket from producing parts. Univair has the expertise, the business model and the cash flow to support many different and far more obscure aircraft. Mooney will never be a successful at parts manufacturing and sales if owners can have parts produced well below list. The “We don’t have any inventory and we don’t have the cash to manufacture at scale” business model is not going to work. Mooney has a direct line to a large customer base here. To my knowledge they have never reached out to identify a specific need. They could do group buys to scale up production. This would serve customers with an existing need and build inventory reserves. However, I’ve not seen much communication from them other than some flowery optimism on things to come that never do.

Despite all of this, I remain confident that the fleet will continue to find service. There are too many airframe flying that are beloved by their owners. Solutions will present themselves unless artificially deterred. While not as ubiquitous as a Cessna, it’s still way more common to see a Mooney at the pumps then almost any tail dragger.

[A64Pilot]

I don’t know anything about Mooney’s business.

But as a VP of an aircraft manufacturer for 15 years or so I suspicion that their overhead is killing them. I assume or suspicion that they have an entire aircraft factory that they have to keep maintained as electric bill, keeping the roof from leaking and it’s likely old, meaning the repairs aren’t insignificant. I think the factory is a White Elephant.

“A white elephant is a possession that its owner cannot dispose of, and whose cost, particularly that of maintenance, is out of proportion to its usefulness.”

https://en.wikipedia.org/wiki/White_elephant

 

[A64Pilot]

 

Helicopter flight:

"A bunch of spare parts flying in close formation."

"Anything that screws its way into the sky flies according to unnatural principals."

You never want to sneak up behind an old high-time helicopter pilot and clap your hands. He will instantly dive for cover and most likely whimper...then get up and smack the crap out of you.

There are no old helicopters laying around airports like you see old airplanes. There is a reason for this. Come to think of it, there are not many old high-time helicopter pilots hanging around airports either so the first issue is mute.

You can always tell a helicopter pilot in anything moving: a train, an airplane, a car or a boat. They never smile, they are always listening to the machine and they always hear something they think is not right. Helicopter pilots fly in a mode of intensity, actually more like "spring loaded" while waiting for pieces of their ship to fall off.

Flying a helicopter at any altitude over 500 feet is considered reckless and should be avoided. Flying a helicopter at any altitude or condition that precludes a landing in less than 20 seconds is considered outright foolhardy.

Remember in a helicopter you have about one second to lower the collective in an engine failure before the craft becomes unrecoverable. Once you've failed this maneuver the machine flies about as well as a 2 ton meat locker. Even a perfectly executed autorotation only gives you a glide ratio slightly better than that of a brick. A corollary to this: H-53 Pilots are taught autorotation procedures so that they will have something to do with their hands and feet while they plummet to the death.

When your wings are leading, lagging, flapping, precessing and moving faster than your fuselage there's something unnatural going on. Is this the way men were meant to fly?

While hovering, if you start to sink a bit, you pull up on the collective while twisting the throttle, push with your left foot (more torque) and move the stick left (more translating tendency) to hold your spot. If you now need to stop rising, you do the opposite in that order. Sometimes in wind you do this many times each second. Great fun is letting a fighter pilot go for a ride and try this. Yes it is!

For Helicopters: You never want to feel a sinking feeling in your gut (low "g" pushover) while flying a two bladed under slung teetering rotor system. You are about to do a snap-roll to the right and crash. For that matter, any remotely aerobatic maneuver should be avoided in a Huey.

Don't push your luck. It will run out soon enough anyway. If everything is working fine on your helicopter consider yourself temporarily lucky. Something is about to break.

There are two types of helicopter pilots: Those that have crashed, and those that are going to.

Harry Reasoner once wrote the following about helicopter pilots:

"The thing is, helicopters are different from planes. An airplane by its nature wants to fly, and if not interfered with too strongly by unusual events or by an incompetent pilot, it will fly. A helicopter does not want to fly. It is maintained in the air by a variety of forces and controls working in opposition to each other, and if there is any disturbance in this delicate balance the helicopter stops flying; immediately and disastrously. 
There is no such thing as a gliding helicopter.
This is why being a helicopter pilot is so different from being an airplane pilot, and why in generality, airplane pilots are open, clear-eyed, buoyant extroverts and helicopter pilots are brooding introspective anticipators of trouble. They know if something bad has not happened it is about to."

Having said all this, I must admit that flying in a helicopter is one of the most satisfying and exhilarating experiences I have ever enjoyed: skimming over the tops of trees at 100 knots is something we should all be able to do at least once.

[Shadrach]

@A64Pilot

Great post! Thanks!
So during auto rotation, is the main rotor driving/providing torque to the tail rotor so as to allow yaw control?

Did you ever experience any failures that required an Autorotation?

 

[KLRDMD]

12 hours ago, dkkim73 said:

The instrument rating is IMHO the completion of pilot training.

What about commercial? CFI, CFII, MEI? ATP? There's a LOT more pilot training available to those who want to continue to learn and continue to get better.

[A64Pilot]

18 minutes ago, Shadrach said:

@A64Pilot

Great post! Thanks!
So during auto rotation, is the main rotor driving/providing torque to the tail rotor so as to allow yaw control?

Did you ever experience any failures that required an Autorotation?

 

1. yes, there is a free wheeling unit, a clutch if you will that allows the drive train to overrun the engine(s), the drive train is interconnected. if the engine doesn’t decouple you cannot autorotate. You have a tachometer on a single engine helicopter with two needles on top of each other, one is engine and the other the rotor, they should always be joined in normal flight.

2. No, all my time after flight school was in a twin engine helicopter. I did have two engine failures though, one the gas generator let go in a test flight where one engine was off line and the second engine was being tested for contingency power, meaning higher limits are automatically enabled if one engine quits, and I had a failure of the Engine Control Unit that made it cut to idle, that one I was able to manually override.

I’ve had three engine failures in my Career, two in the helicopter and one in the Experimental GE Thrush, all turbines. The GE I got luckily in it let go at altitude real close to an airport that I was able to make and we took the airplane apart and trucked it home.

The GE had a Walter E-11 engine as the GE engine wasn’t yet Certified, the GE evolved from the Walter so all of the fittings etc were identical allowing us to build the airplane before the engine was Certified, the Walter just didn’t have as much power and I’m afraid that I was pulling the guts out of it pretty frequently and it finally succumbed to repeated thermal stress.

I’ve never had an inflight engine problem in a piston, but then I’d guess maybe only 20% of my total time is in a piston, all single engine.

[A64Pilot]

1 minute ago, KLRDMD said:

What about commercial? CFI, CFII, MEI? ATP? There's a LOT more pilot training available to those who want to continue to learn and continue to get better.

I think his point is without the Instrument your not for lack of a better term a “full pilot”.  I concur with that personally. I think if you plan on traveling especially if at night your unsafe without the Instrument rating, remember this is just my opinion.

[Pinecone]

I will be a bit contrary.

I think that you could buy a 252 now and do your IR in it and then do your mission.  And do so safely.  BUT, it will require a number (a LOT) of hours with a Mooney experienced instructor and some dedication to flying on a regular basis (not just every Saturday).

Yes, the military does it, but their program is a 40 hour week of nothing but learning to flying and being around aviation.  AND, they wash out those who are not good enough.

That said, renting does have the advantage of better availability due to them having more than one plane.  And talk to the FBO, they may be willing to cut a deal on Mon - Fri for 6 - 8 hours Hobbs as they may not be so busy during the week.  I have, over the years, been able to rent like this.

[Ragsf15e]

1 hour ago, Shadrach said:

This sentence made me laugh! When I look at all the components of a helicopter, I would think that every flight requires a considerable degree of optimism.

Things are tough all over. I’ve an acquaintance with a Beech that had a gascolator spilt (water in gascolator turned to ice). Beech would make the part for something like 12k. Thankfully  he found salvage. I think you may be right that the factory is preventing the aftermarket from producing parts. Univair has the expertise, the business model and the cash flow to support many different and far more obscure aircraft. Mooney will never be a successful at parts manufacturing and sales if owners can have parts produced well below list. The “We don’t have any inventory and we don’t have the cash to manufacture at scale” business model is not going to work. Mooney has a direct line to a large customer base here. To my knowledge they have never reached out to identify a specific need. They could do group buys to scale up production. This would serve customers with an existing need and build inventory reserves. However, I’ve not seen much communication from them other than some flowery optimism on things to come that never do.

Despite all of this, I remain confident that the fleet will continue to find service. There are too many airframe flying that are beloved by their owners. Solutions will present themselves unless artificially deterred. While not as ubiquitous as a Cessna, it’s still way more common to see a Mooney at the pumps then almost any tail dragger.

It’s the other way around for helicopter pilots… they know all those 10,000 parts are constantly trying to throw themselves apart and they expect it to happen at any moment.

[AndreiC]

Back to the OP's question. The two or three times I got myself in *big* trouble (things that could have ended up really bad) over the ~1200 hours I have flown were every single one of them at the end of a long day, under pressure to get home. Think wanting to get home for Thanksgiving dinner, after a day working somewhere 400 miles away, and taking off in freezing rain over one of the Great Lakes, hoping to get ahead of a snowstorm. Or, after a full day of skiing, landing to refuel with what I discovered were 2 gallons of fuel on board. At that time I was thinking I have over one hour's worth of fuel, and was debating whether to proceed to my home airport without refueling, 15 minutes away. This one at night over hilly terrain. 

The more you fly the more cautious you get. I live in the Midwest just like you, and as a 1200 hours private pilot who has had an instrument rating for close to 20 years I would be very hesitant to think of using my plane for regular commuting the way you want to. Even with an IR, the weather in the Midwest will be trouble frequently -- thunderstorms in the summer and icing in the winter. My job is reasonably flexible, and nevertheless probably one out of every three or four trips I took for work with my plane ended up with me returning by commercial flight and having to go back to fetch the plane later. Not fun.

When I was younger and much more gung-ho I used to think of my plane as a mode of transportation. I still think of it that way when I plan a vacation where nothing happens if I have to wait somewhere for a day or two. But work is a completely different animal. You tell yourself that you'll book a commercial flight three days in advance if the weather does not look good. What will actually happen is that the weather will look ok-ish three days out (or look that way to you because you want to fly yourself, and boy are we good at deceiving ourselves). When the weather looks marginal on the day of your flight the go/no-go decision will be much much less clear cut than you think, and it only takes one time to get in trouble. 

Just my two cents.

[A64Pilot]

1 minute ago, Ragsf15e said:

It’s the other way around for helicopter pilots… they know all those 10,000 parts are constantly trying to throw themselves apart and they expect it to happen at any moment.

In flight school flying the little TH-55 which is the Hughes 269 / 300 with a Lycoming IO-360 we never flew straight lines going from one stage field to another, we flew from one forced landing area to another. The instructors were contract Civilians working for Pan-Am, they were all Vietnam vets, they would frequently as in a t least a couple times per flight, snap the throttle to idle and of course you would then have to autorotate.

I never had it happen to me, but apparently the little Lycoming was bad about quitting every so often when the throttle went from wide open to idle suddenly, remember there is no prop to drive it. When it did that of course the practice Auto became real.