I aim to build a portfolio that will allow me enough passive income to semi-retire.

I used my business LOC for the %15 down payment.The balance was financed by a different bank at 5% annual on a semi annual payment...

Jon, you confirmed what my semi-conclusion has been based on all the research.

I watched both the semi-final games at the Superdome in New Orleans and had a blast...two really great games.

I would simply say get out there and know what product is trading at for you local market.I can tell an investor looking to purchase in Georgia what the going returns are.What the seller is asking,what the property is going under contract for,and what it is closing at.When you get into 5 plus or more units and commercial financing you get much more creative in putting the deals together.The location and age of a building along with it being fully performing,semi-performing,or completely vacant makes a big difference in value.An out of state investor might call me that gets a 5 CAP where they are at and dreams of a 13 cap here.I have to tell them they can get that but the property will have big problems and risk.If they want a more stable product in a better area a 9 to 10 is the average.Through rental demand over the next few years and improvements they can leverage the cap further than where they are at going in.Many have bought houses before but are new to the multifamily arena.

If you utilize a full time PM company for an out of state rental property can you still deduct expenses for an annual/semi annual visit??

last year i replaced my teacher salary in 9 months. now basically semi-retired but getting bored because inventory dried up. i use wholesellers, and realtors but no investment grade deals coming in.

I have a website being made now with a semi unique take on marketing(modeled after one of the successful BP wholesalers.)

Maybe look for single family homes in some semi-distressed areas (Lynn, Lawrence, Brockton) that need a little fixing up (I will save huge labor costs by just using the guys who work for my contracting company) and then slowly build a portfolio that way.

For finished stock cabinets from the big box stores, you're probably looking at $70 per linear foot at the low end.You can probably get nice semi-stock maple (or similar) cabinets from local suppliers for $100-150 per linear foot.Most of my rehabs resale for about $100K, and I would never put in stock cabinets.