You may have to get an interim job after the Army, but you could do something you love like real estate because you'll probably have enough residual income between your rentals and your retirement to pay for your living expenses.

@Yonah Weiss if you're talking about a software that uses the residual estimating approach, then, not a chance :) 

Nobody will ever care as much as the owner does.To expect the property manager to in my opinion is unrealistic.If they are making checks off of sales or other residuals then yes the pot has been sweetened.If you have a newer or updated property that has an ideal tenant and the rent is high and in a nice area then yes management is not that hard.Many investors however want to buy these little dumper houses in suspect areas that cash flow well.These properties usually have deferred maintenance,a bunch of drama,and high turnover.These types of tenants income is usually erradic working multiple jobs or pooling with other people with jobs combined to pay the rent.

In any event if I over estimated rehab, paid it on HUD and didn't use it I could request the residual from the title company whenever I wanted.  

The way that I invest is that I review all the downsides to an investment and in my current situation and five years down the road, is there enough mitigating factors to offset the risk, do I want to take on the residual risk, and is the potential return enough to take on remaining risk.Many investors loss a lot of money during the downturn, even in Southern California.

I hope you put on gloves before you reached back in there for the other 3 ;) Well the diaper was "wrapped", meaning it was used, and folded with the adhesive straps so I didn't get my hands dirty. 

However, I will also be starting my own real estate company for a number of reasons.Once I get to the point that I have enough residual income that I can retire with, I plan on continuing doing home inspections.

Exterior Asphalt siding over existing dutch lap pine Wood painted trim (peeling) Half-lap roof (10 years life expectancy) Interior Large rooms a bit wavy floor lathe and plaster walls Brown painted bedroom floors Bathrooms large (7x12) but 24" vanity self adhesive floor Kitchen large (15x13) but no counter either side of sink!

Sometimes the number of successful years of investing is not as important as the number of deals that an individual has successfully completed and put a boat load of money in his pocket as well as still receiving residual income from his deals for years to come wouldn't you agree?

The old sheet good vinyl floor I want to cover, while not perfectly level as the house has some settling, is smooth and seam free, and will probably do ok with the basic Allure.Douglas Peterson In your Stratomax installations, are you using full spread adhesive or taping at walls and seams?