I feel the loss of earnest money is a cost that will save me many thousands of dollars in vacancies/repairs etc of a bad investment.My goals:I would like to replace my current income stream in the next 2-3 years.

I'm a recent college grad looking to build a steady stream of passive income outside of my current job.  

"Good Debt" works when tenants pay the rent, but good debt becomes bad debt when that rental income stream dries up for any reason.Some people thrive on going through the rags-to-riches-to-rags-to-riches cycle multiple times ["nothing ventured, nothing gained"], but for me, I believe the slow-and-steady-wins-the-race approach of the tortoise over that of the hare.

Books and magazines I am at least going to open and look at every page to my right, Amazon Prime music streaming my favorite play list over my Echo, and cats more or less subdued... which is strange because their feeding time in only 30 minutes away...I am not proud to say this intimidates me.

The irony is 95% of investors are not full time....meaning they have W2 income to cover expenses...and living off cash flow from RE alone is very risky (you must have other revenue streams). 

[Unfortunately, living in SF where investing in real estate is too rich for my blood - I'm an out of state investor in Atlanta].I have to give them 30 days notice to drop them according to my agreement (which I could start today for end of November) -- but then the property would still remain vacant and being an out of state investor - I'd have to find another PM to take over.  

Note that our clients buy long term, tax advantaged, inflation friendly income streams.

My day job is Marketing Director for an international tea company, but I'm looking to add an alternative revenue stream. 

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat."

Can you have a friend cosign, or does it have to be a blood relative?