My ultimate goal is to eventually employ a buy and hold strategy where I can later reap the benefits of residual income.

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???

Negotiated rates because of residual business.

Assume no residual value from the property (as you said) should the tenant leave at the end of the primary lease term.

Something with residual income as well potentially flipping some of the lower end properties in the area.

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.

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