single or double wide..My exit would be to sell the homes to all the owners and hold the notes till paid off.  10-15 yrs of monthly income is great.  

With the trend for City living, you could do quite well if you choose wisely.Other than Naples (nod to @Mustafa Abdulali - predicted appreciation 40+% over the next 3 yrs) and the location of my summer home, I stick close to where I live.

Indianapolis isn't Hawaii Bob(stating the obvious)Even if a house does not appreciate for 20 yrs, and rents, only go up a few percent a year.If a property is bought right and cash flows properly.

i borrowed 50k from my 401k to buy a 68k property.interest rate is 3.25%, paying over 5 yrs, so roughly $900 out of my paycheck goes directly back to them/me. other than losing the purchasing power of that 50k, it's one of the best decision i ever made. 

I lived in Auburn Hills for 5 yrs. 

I'm 6 yrs into this room rental thing and for the most part it has gone smooth.

I'm 24 yrs old with a beautiful wife and a soon due baby, and I have a day job as an airline pilot.

Greetings BPI just picked a a huge 9,000 sq ft vacant lot in the city of Orange, near Santiago Community College, its a very nice part of the city, in the canyons, a lot of beautiful and expensive homes along the hills.I have been wholesaling for about 3 yrs, and just started rehabbing last year, I wholesaled the house next to the lot, and it just so happen the same seller owned the lot next door, so he calls me a month later, tells me he is leaving Ca for good...he 85 years old and just wants to sail.....and so he sells me the lot for 125k....unbelievable. 

hiI agree with all things said above ;)I kinda jumped into commercial, but being in BP helped me through the fear.you would need an LLC or what ever ownership vechile bc of the liability.I became a Realtor 3 yrs ago, but it only helped me understand the process, didn't make me a "better" investor.

My goal is to have a few flips and or build a couple specs later on (maybe in a few yrs) part-time and on weekends, etc.