Getting Started

[Wesley Armbruster]

Hello everyone.  I'm a teacher from Missouri and I've been listening to Bigger Pockets podcasts for several months now.   I listened to a podcast the other day (89, I believe) with Emilieo (?).  Several things from his story have really inspired me to get started.

He mentions his ability to help others and how providing opportunities for others gets him out of bed in the morning.  Teaching and coaching is currently my passion, but I'm not 100% sure it is going to stay that way when family and things come.  I want to create a passive income that meets/exceeds my current salary of just over $50k.

Any suggestions for the best ways to get started?  I don't have a large bank account, but I did recently buy a foreclosed home and flipped it to live in.  Bought it for under $60k and the appraisal before improvements was over $80k.  With improvements it should be valued at over $100k.  

Too risky to borrow against the $40k in found equity to get started?  Lots of randomness, but everyone getting started is what is important.