Starting Out!?!?

[Nick Martin]

Hi, just signed up with BP yesterday. All I can say is WOW! I'm so impressed with the wealth of information and depth of knowledge I have already found. I'm 27 years old and already fed up with the rat race. I want to create income so I can enjoy more time with my two sons and beautiful wife. I've spent my last 5 years working 6-7 days a week 10-13 hr shifts as quality control in the oil industry. Great job for someone my age no doubt but there has to be something more!
I'm wanting to give rentals a try. I thought I knew what I wanted but after reading through multiple posts the purchasing arrangements and creative financing possibilities have my head spinning! I'm hoping to get some feedback from people who have already failed their way to success!
Where I'm at currently....I purchased a very nice foreclosure nearly two years ago in N.W. Indiana that needed some work. I have most of the work completed and the property just appraised for 296k, I currently owe 192k. I can put this property on the market this fall, without paying capital gains tax.
Should I find another home and pay cash for it and then finance a 4 plex? Should I buy 3 or 4 small SFR by the lake with cash (there's some really decent ones from 40-55k). My original goal was 6 4 plexes in 5 years but it sounds like getting funding for that many properties may be difficult and not happen in 5 years. I'm here for solid advice and expertise please help!!! What would be my best direction starting out?