An option is simply a reward for a tenant paying above-market rent on time.

My lease calls this a reward for paying their rent on time (95% of the time).

Becoming a real estate investor has its up and downs, it's risks and rewards, and of course the potential of living a life where I have the opportunity of owning my time and energy; by this I mean, eventually I will not be working a 9 to 5 job where I am constantly following repetitive task day in and out, and where I do not have the freedom to express my self and creativity.

I'll have some money left over in my 1031 exchange so I'll most likely find a 2nd property to purchase shortly.So in summation this one house has allowed me to:Pull out my down payment and purchase a 2nd house immediately I cash out refinanced that 2nd house to buy a triplex shortly after   Now I'm selling the original house and buying two more housesSo, in the end I acquired 6 doors (almost 1 million in property) made $3,500 cash flow ($6k - $2500) and paid down my LOC in the process    It's rewarding to see the 3 million dollar goal by 2020 in the OP as I have already surpassed that and the new goal is now 10!

I used to live near Pasadena and absolutely LOVE the charm of all those historical craftsman homes, especially the Gamble House ... unfortunately, this was before I became a RE investor.

That would take up very little of your time and could reward you big for minimal effort.

Trucking is a cost to consider too... the further away from the plant, the higher the transportation cost.5) As noted in #3, lumber is a low margin commodity... takeoffs take a lot of time and there is little reward for a rep.  

@Danielle J.Welcome to BiggerPockets, a place to interact with a vibrant REI group, learn the real estate business and language.Since you did not mention a specific area of interest, I added links to three of the most popular niches for your to select one or all while you wait for local networking contacts.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

@John Arendsen  no mystery to CF on the debt side they are just HML  and if you equate it to CA lending rules were your allowed to fractionlize DT's they are basically doing the same thing pooling investors into a debt instrument. . they get rewarded with the points and servicing fee's.

@ANNA BOBROVAWelcome to BiggerPockets, a place to interact with a vibrant REI group, learn the real estate business and language.Seeing that you are uncertain about your area of interest, I added three links to the most popular REI niches for your review and selection of one or all.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?