Just starting out, need advice to structure/achieve goal

[Jolu Talampas]

Hello everyone, I'm just starting out and I'd like to get advice on what options I have or can utilize to achieve my goal. Basically, I'd like to achieve a monthly income of 10-15k (all passive as much as possible) within 5-6 years. I am starting out by purchasing residential properties for buy and hold (preferably multi-family) as my first few purchases.

I am aware that solely relying on residential rental properties will probably not let me achieve my specified goal (netting on average $100-150 monthly cash flow), so I am looking at other options that will help me do so. Since most banks only allow 4 mortgages (correct me if I'm wrong), maybe I can have 3 rental properties and use the 4th mortgage for house flipping, using the profits to slowly pay off the other mortgages, until they are free and clear, thereby freeing me up to apply for more mortgages, and increasing my monthly cash flow from those that have been paid off.

I am also open to try other methods that will help me achieve that goal and I'd like to know what you've done or would've done yourself. Such as probably moving over to commercial buy and hold, etc.

I've been reading the "20 Years to 20k month passive income" thread and found some pretty decent information there. One member mentioned something about "Commercial mixed use NNN" and "Contract for Deed". Still new to this thing so I would appreciate some enlightenment on them.

I really don't have that big of a bank account, so I am looking to start with zero or no money down. And yes, I am currently reading @Brandon Turner's book about it and finding it quite valuable as well as a learning tool for me to take that step forward.

Thanks everyone!