Help Needed! Trying to buy my folks a home and get into REI at the same time

[Jason Schmidt]

I am super excited about my folks moving back to our area. It seems as though there are several houses here at less than $75k that I can get them into. I would like some help though in trying to figure out how to do this. I have read books on real estate investing, but have probably lost a lot of my memory on it. I want some good equity built up in it before buying also, of course. What should I do? I hope to find and buy one in about 2 months.

In the next 5-10 years, I would like to have about 5 to 10 rental properties, and put myself in a position with enough passive income to live on, while not having to play handyman - I suck at that kind of thing, and woudln't enjoy it either way.

What are your thoughts? As you can see, I need help!