Some people are okay with less others wouldn't touch it for that much.

I'm particularly interested in what tactics people have implemented for sourcing quality deals (not the I need 100% financing bs)Would you:1.

Many people don't want to self manage from out of state, and professional managers can suck up alot of the cash flow, and not do as great of a job as you would've hoped. 

Many people utilize LLCs for many different ventures because they do not want to go through the hassle of opening another LLC.

One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

CIREA is great but we tent to get just as many people and a ton of great energy. rootsrealty.co/events 

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

A few years ago there were a lot of get rich quick types, and I still get contacted by people who think they can buy 2 houses and retire on the cashflow. 

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria. 

A4: If you pay as “friends and family” – then yes, need 1099s.Q5: I only need to send 1099s to people, not to LLCs, right?