I would look for a bunch of Sub To Deals with 2-3% interest rates ...... then rent out for cash flow and huge equity build up when rates are really low (check out amortization schedules and compare 2-3% vs 6-7% with the same balance and length of time - check out the principal portion each month - the lower the rate the higher amount goes to principal PLUS better cash flow).

My question to you is, what is your plan to build up the inventory?

Let that cash flow build up (don't spend it - put it all into a separate savings acct), keep saving (do whatever you did to get the $80k) and when you have enough money saved up again, buy another one.

I want to build up my portfolio with good long-term rentals, but I have trouble looking for good deals.

Then i'd build up some money and either try to buy a few 5- 10 unit buildings, or buy a few small multi family fixer uppers.

Been in IT for 20 years, looking to put my skills to work to build up my retirement.Chris Welcome to BiggerPockets!

This could let you start building relationships with others in your area (and potentially lead to joint ventures later) and to build up your working capital.

@Dorian Gray - I think part of the answer to your question depends on the likelihood of needing more funding in the future and if you have another plan to slowly build up reserve funding.

It personally took me decades to build up the financial base to get going, but once I did I was able to start making some serious progress on wealth building. 

I love your goal to build up enough cash flow to replace your income!