When that position is "in house" it's easier to train them to produce the results we expect with a partial re-paint.

Investing in income producing real estate is a great approach to build passive income and wealth by leveraging off what I call the 6 powers of real estate.

Parking the money in a savings account will produce a negligible return.

Though between the two of us, we have enough cash on hand to buy the property outright, and currently have a couple other income producing rental properties, a conventional loan is going to be hard to come by. 

Thanks in advance for any type of advance this post could produce.  

The land was once oil-producing and I believe it has shale deposits now.

There are only a few that actually want you to produce to have your license there.

My ultimate goal is to acquire enough rental properties that will produce enough positive cash flow so my family will be financially free.I'm looking forward to learning and networking with everyone here. 

And, "what if told you" that, using leverage you have the potential of acquiring at least 4 times as many income producing properties in Parker, Colorado Springs, wherever, doing really nice things like, reducing your principal balance and tax burden, more tax benefits done right and, never least, appreciation. 

One house was listed at $179k, the price dropped and after I produced a $30k issue I was able to get it for $110k.One house they had a current appraisal (I didn't agree with it) at $160k and I offered $91,500.The only other low offer was one they listed at $115k, I offered in the $40ks and have since bumped up to $60k but they sold it elsewhere (sounds like it went for around $70k).You run a risk of looking like what you fear, but what could it possibly hurt to try?