@Nancy CurranI only own 5 units but I have always downplayed how great it is to have this residual income coming in.  

If it matters, our business has a residual income of roughly $10,000 a month and growing similar to a base salary.

My goal is to have residual income and my third house was a small stepping stone in that direction.

and to add to it, the basement had of course been freshly painted, with new adhesive tiles, and all new baseboard TRIM.

My goals as a real estate investor are as follows, start out wholesaling single and multi family homes, as i gain knowledge and skill along the way I will move forward to fix-n-flip, and then on to buy and hold for residual income.

I have been involve in a few whole sale deal, but was not satisfactory. i am interested in acquiring, flipping, new development and most importantly residual income possibilities.

The main reason for wanting to invest in real estate is because I would like to build residual income and be in charge of my own future. 

You may have a hard time getting a guarantee, there are issues with security laws.10% is a realistic expectation on a partial note-  since you are a 1st lien holder you are secured by the property and the seller holds a residual interest.  

Although long term residual income is my biggest interest, the thought of making a few flips in the beginning really gets me going!

If there is no resolution with the borrower a week or two before the auction we will set the opening bid and any minimum price.If you want to be even simpler then that buy a well secured partial where the seller has a large residual interest and a strong incentive to buy your out if things go sideways.