The advantage of REPS is it can make non-STRs also non-passive.   

@Kevin Turano, that appears to be a deed not a lease.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.You need to get a firm grasp on two things: the ways to make money with real estate, and how to find deals that match your goals.P.S.

The challenge for a PMC is having the time to answer all your HUNDREDS of questions and handholding you as you learn, while still making money.

West Palm Beach rental demand is about to rise - what do you think?

If you pay more, you won't meet your metrics and will probably have negative cashflow and/or equity.You may have to make 10, 20 or even 100 offers to get one accepted at the price that meets your numbers.This is what all investors did BEFORE the Great Real Estate Crash of 2008-2010.

It's slower, but patient people tend to make wise investments.

Glad to hear that you are using Equity Trust already as they happen to be our official partner for self directed IRAs. :) It sounds like you are looking for a specific investment opportunity? 

Happy to meet up with you and share my many years experience as an investor and networking with other investors and parting my wisdom.

Key is to not grow to fast and have $ set aside as it's never as fast or profitable as you think when getting started where in Texas are you looking to be a GC?