You've put 10k in to your pocket right up front and you are getting 171.36/mo of residual income for 30 years (or until the buyer refinances).The risk here being the "due on sale" clause which gives the mortgage company the *option* (but not the obligation) to call the mortgage due whenever the property sells.

i want residual income, but would i be better with a single family home in a better area that has $1200 a month return with a solid renter???

My goal is to have $10k a month in passive residual income through rental properties.

I will also look at multi-family, as my primary goal right now is residual income.

I wanted folks to know that we're still having some residual problems from the crash yesterday, but we're working to get them all handled.

Less risk for you getting in the deal and more potential upside for him later on - in addition to any residual benefits from the relationship.

My thought was to attempt to start purchasing some real estate ie rental properties or homes to flip etc and slowly try to build some wealth that way and perhaps create some residual income from 1 or 2 rental properties that I may be able to pay cash for.

My ultimate goals are to make sound investments, grow wealth and residual income; so that I can take time to travel and see the rest of the US.  

Now he gets a residual income stream.

Highly motivated to do wholesale deals, lease options, and build my real estate holdings for residual cash flow.