Doing this, you *might* be able to find a few properties that will produce the cash flow you are looking for. - Option B is a little more farsighted, and a little less "analysis" based.

@Jeff Thompsonwhen you sell investment owned by the IRA - the gains are sheltered from taxes (because IRA is tax-deferred vehicle) and when IRA-owned investment produce income or cash-flow - it must flow into the IRA and also will be sheltered from taxes (unless the income is unrelated business taxable income). 

I am interested in learning how to either flip houses or invest in property to produce long-term income now, so that when I finish graduate school my wife and I can best invest our income early on. 

I have finished all of the courses and tests to become a licensed real estate agent but have not currently found a broker.The last thing I wanted to mention is that I hope to own 10-20 income producing properties in the next 10 years.

@Ryan York - I agree with you that while the purchase price is lower than people from more expensive areas are used to, SFR still is not producing great cash flow unless you're buying serious fixer-uppers, in which case there's a ton of competition.

In short this means that it produces more energy than it consumes.  

I should disclose I've spent the last five years in a technology sales role, and have grown to be the highest producer in our southern region.

You are getting some GREAT info from Account Closed.Once you find a "farm area" to work, and follow his advice RE the Property Appraiser's site.There, you can locate homes done by investors.Once you locate them... two things...Do a search on the PA site using their name as the owner.If they are investors, it should produce a list of properties.Next... on the PA site, make noe of where the property tax bill gets sent.

I’ve been waiting to see if my new property would consistently produce cash flow as well as needing to finally finish my NRC exam to obtain a Reactor Operator’s license for the Watts Bar Nuclear Generating Station here in East Tennessee.

The tax code is like a guidebook that tells you where the government thinks the money needs to go in order to produce a healthy economy.