10-Year Retirement Plan

[Broc Gullett]

(assuming adequate capital each year from salary)

Year 1 -- Buy 150-200k single family or duplex with 75k down payment on 10-year mortgage

-Rent property (may cash flow, but happy to just break even)

Year 2 -- Buy 150-200k single family or duplex with 75k down payment on 10-year mortgage

-Rent property (may cash flow, but happy to just break even)

Years 3-10 -- (same thing each year)

Year 11 - Take out another mortgage on the house from Year 1, which is now completely paid off. Live off that money and retire. Continue renting to pay mortgage. (alternatively, HELOC??)

Year 12 - same cycle. 

Please tell me why this is impossible or what I need to watch out for...