Newbie in DFW

[Nick R.]

Hi all, I currently have 8k in cash, about 14k in my 401k, make approx 52k/yr from my job and own a townhouse with a balance of 60k and is worth anywhere from 80-90k.

I'm considering selling my townhouse and purchasing a multi-family property as my primary (somewhere near "M" Streets area) to live mortgage free and hopefully create some extra cash flow. I'm also considering doing a flip with a HML or a private lender and rolling the profits into this future multi unit primary in order to create more cash flow and eliminate PMI and to help kick start my real estate investing endeavors.

I feel as though I have enough education and am well aware of the risks involved in doing a flip. I have wanted to flip for quite sometime and want to get off my a$$ and finally do it...otherwise it will keep getting put off and then 5 years go by and nothing has happened. I have the time to commit as I'm single w/no kids and just have my full time job commitments.

My ultimate goal is to be able to live comfortably off of passive income from rentals but am unsure of the best way to get started. Thanks for your input!