Leverage your existing equity to invest in smaller properties, such as a mixed-use or retail space, to gain experience and cash flow.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

@Tori Rhodes faster ways to scale:Buy a portfolio from another investor- Get seller financing from a savvy one that doesn't want capital gains hit!

Also Chip and Joann Gaines and put this town on the map with their show on TV.

The meeting was mostly passive.

While there's no strict requirement to match the original mortgage terms, reinvesting the full proceeds without financing or using leverage to enhance returns is key.If you don't reinvest the full amount, any shortfall ("boot") will be subject to capital gains tax, and depreciation recapture may apply.This post does not create a CPA-Client relationship.

Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

I would like to start generating some passive-income and start with some residential properties in my initial portfolio.   

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

Ready to learn, grow and gain financial freedom and generational wealth.