Scott, you have the right idea and if you work hard you can be very comfortable in 10 years.If you don't have a lot of money, I would start off wholesaling to build up some cash reserves (this is how most of us started out.)Then I would move into rentals.

The day job pays the bills, and allows me to build up my real estate investing on the side.I would suggest the same for you.

When fee land (land bought from the ground up) is purchased, the buyer automatically has air rights to build up which they can either keep or sell, generating profits that could run from 60-80 % of what they originally paid for their land.Van Ancken cited as examples of the increased value of air rights the recent sale at 279-287 Broadway where the land sold for $219 psf and the air rights went for $193.54 psf.

Do whatever you can to build up credit for your LLC.

I want to do some short sale to build up my cash.2.

Wholesale a few properties for immediate cash and to build up investment reserves.2.

But I may have to just to build up some cash.

But if you have money to pay it down I wouldn't build up a stock pile of money in the bank that earns 0.25% APY when you are being charged 6.5+% on your mortgage.Unless you can find a way to earn more then the % on your mortgage.So you have the write idea...pay it down as you go and save yourself the interest and get free and clear faster if that is your goal.

I need to build up my cash flow before I do any of that.

I'd like to hold on to the properties and rent, but think I might need to sell them in the beginning to build up my cash.Does anyone have any experience in this?