I currently work as a rental agent so I get to work with property managers, tenants and owners on a daily business and I am learning everyday which is really rewarding. 

@Gary Thompson If father in law just wants a loan and interest, rather than being involved in the risk and the reward then he should just do the hard money interest rate.

Once you've got some experience and a team in place ready to handle whatever rehab nightmare you might encounter then you can consider the risk and reward of buying an auction property sight unseen.  

But I guess no risk, no reward, right?

I’m doing this in Arizona, I love it it’s the only business where your efforts or lack thereof are immediately punished or rewarded, I’m standing up my second property this weekend.

From time to time you need to splurge on yourself.The strategy my wife and I have employed is to give ourselves small rewards.   

My spouse WANTS to be supportive, but at this point is not interested in learning about risk mitigation - she mostly views RE as being 90% risk and 10% reward.

So short term rentals can be a great strategy, but be sure to weigh the risks with the rewards based upon the location you choose.

A few months ago I jumped into this game called 'investing in real estate' and so far this experience has been real good and rewarding.

If it says "Hold For Cash Reward" at the top of the credit report (joke) ..."