As passive as possible.  3k a month in 5 years is a conservative and I believe very attainable goal.  

I just want to teach my kids the value of money and how to attain it.

However, in this case the executor was incapable of acquiring the home, so someone else was assigned as the steward temporarily until that person dies or is able to attain the property.

I'm primarily interested in purchases as investments, maximizing ROI, and looking to take a more active role (compared to buy and holding stocks/funds) in attaining FI.I think the regional pitfalls/gotchas, and unseen costs are the biggest deterrents for newbies and over-thinkers like myself.  

im trying to buy my first property and get out from my 9 to 5 lifestyle  and attain the freedom buy making enough passive income.

I will most likely be using a turn-key provider to attain more cash flow, hence the new rentals will come with little or no equity.

Jimmy,I'm attempting to attain 20% private money.Jeff

. $11,400/year - $1,985 Net $ 9,415Cash on cash  23.5% This scenario does not take into consideration any mortgage but once we factor in refinancing the property and pulling out 70% of value using a 30 year fixed loan at 4.5% we attain a cash on cash return of 39.2%$40,000 appraised value 70% cash out $28,000 mortgage Monthly mortgage payment $142Yearly mortgage. $1704Yearly expenses $1985$1704+ $1985 / $9415(net)Cash on cash return 39.2 %  If this scenario is possible through the use of refinancing would someone chime in and give their opinion whether it would be feasible to replicate this using larger funds.Let's say we are very conservative and pay $50,000 for a renovated 3 bed 1 bath home and rent it through section for $1,000/ mo we can still attain a 18.5% cash on cash return.    

Ive found that even on wholesale deals where the properties need work, as long as everything was tidied up and neat, there was an ample amount of interest.  

(CRMC).These are companies that have been audited by the National Association of Residential Property Managers and have demonstrated a high standard for both procedures and customer service.Again, I believe the best way to find a good property manager is to seek a property manager out and has invested in advanced training and education and has attained designations, usually they also have years of experience.Kevin