getting started and making it grow

[Mike O.]

hey my name is mike I am 30 years old and after years of thinking about investing in real estate I am finally ready to do it. I just got married 2 months ago, i have 3 kids(all of them with my wife). Currently rent a townhouse to my mom worth about 200k(no mortgage $2k in taxes) for $700/month with $190 HOA and i know i could rent it for way more but its my mom. My wife and I also own our own home worth $335k(no mortgage) with $4k a year in taxes. We have no car payments and shouldn't need a new vehicle for 4 or 5 years. I will make roughly $38k this year at my job and my wife stays home with the kids.

I recently got a settlement for $700k, opened up a LLC and put my rental property in it. I recently purchased my 2nd townhouse for my in laws (paid $180k cash) but I plan on refinancing and having a $80k mortgage(15 years). The in laws will be paying $1230/month with $229 HOA. I plan on using the other $100k as a down payment on my 3rd rental for my brother in law and his family. I know i am going to get some bad feedback on renting to family members but I think it will work out for me. Also looking to spend around $170k(probably less) on the townhouse so i will have a $70k mortgage and they will be paying around $1100/month with roughly $150 HOA.

All the rent i get will go towards the mortgages in hope of paying them off ASAP. I am in this for the long run and hopefully in 10 years i can focus specifically on my rental business(hopefully have 10 rentals in 10 years). I know i can get just as much rent from a $100k house but i want you get places in the $150k range to hopefully attract better tenants.  I am willing to do whatever it takes to be successful so I am starting here.I feel like I'm rambling on and maybe gave to much info or maybe not enough. I would appreciate any advice/feedback I can get.