Which option makes the most sense may depend on the individual’s goals and how much time they can dedicate to learning note investing or setting up and running a note business.

The biggest thing you can do is build your CORE 4 which consists of getting a great realtor, contractor, property manger, and attorney wherever you choose to start investing.Let me know how I can help you get going

I agree with the notion that one needs to define his or her goal with regard to real estate and making a living of real estate alone would require lots of it, but cash flow for the long run is almost inevitable.

from your experience do you know if appraisers would choose closer comps but adjust a different search criteria such as a lower br/ba criteria and adjust the arv by 5-10k on a lower lower room or bathroom count or would they prefer a property further out just to match that criteria. this is probably a case by case basis.

By "business account," I’m referring to setting up an LLC as well as a business bank account.My goal is to expand my real estate portfolio by acquiring approximately two properties per year.

The goal is to change careers to something that allows me to decide my hours (in the process of now), become a landlord, and finally spend more time with my kids and family. 

Many investors choose a profit-sharing model for true equity partners, often splitting profits 50/50 or based on the level of their contribution to the deal, but ensure everything is clearly defined in writing to avoid misunderstanding/miscommunication. 

At the end of the day, if you have a tenant you want to keep, talk with the tenant and see if you can get on the same page with them to align your goals as an investor with their goals and budget for their housing. 

Nicholas depends on what your ultimate purpose and goals are.

(at least for the first few properties) I do not need cash flow in the short run but my ultimate goal would be to retire early from my investment properties.