I offered to run the whole job from beginning to end and they just had to sit back and collect a fat check for 50% of the profit. 

With rent growth that comes in part of appreciating markets comes fat more cash flow (with patience) than you will get in an actual cash flow market.

It is in very rough shape, debt is very comparable to value which is why realtor isn’t wasting her time (no fat left to pay her commission)..

So I am still at the save and learn stage...books, podcasts, even occasionally do some side work with a local investor to get some hands on experience, while trying to trim fat and stash money.

@Armin Nazarinia - that was a fat finger - I bought it for 227k, and I didn't realize this was going as a post - I thought it would just be on my profile.

Maybe they're not including the gardener coz they expect you'll mow the lawn yourself (fat chance!)

I also want to eat a lot but not get fat. :)If you have a single-member LLC and deposit your income in it - there's no trick to pulling money out.

I never really want to leave my job to do real estate full time, perhaps for a year, but i'm sure i'll get board, fat, or both. 

And you can't exchange into improvements on property you already own.I think that you're spot on in your desire to consolidate and trim the fat from your portfolio. 

That's 4 students in one house who all get a nice fat housing check at the beginning of each semester.