Especially if I want to fund more deals in the near future.I would like to come up with a part time job I can do while working as an agent that will either generate more leads for me, or help me in some other aspect of real estate investing.

There were just too many sketchy aspects, that made it a risky investment.

My goals are to learn all aspects of the Real Estate business, but ultimately want to Buy and Hold to live off the passive income.

@Thomas Clark   Hi Thomas, another aspect that residential real estate investors can fail at least from a house hacking perspective is not treating the house as a business.  

When you sell a rental property at some point in the future (at least a year out), this is not viewed as a flip transaction, but rather just a reallocation of the IRA from holding passive real estate to holding cash.Your example of buy, fix, rent for 3 months, then sell would likely be viewed as a flip, especially if you repeated this pattern with multiple properties.The IRS does not define a "flip" in clear terms, but has a full set of measures they would apply to real estate transactions to determine whether something is a passive investment or a trade or business activity similar to competing commercial enterprises.  

Keep in mind we knew we were buying a fixer upper.Just FYI, NOI is defined as expenses before P&I payments. 

Define goals and network.

It will also clearly define you as the tax payer for the property since a living trust as you're anticipating is typically a disregarded entity.

@Thaddeus Duffy I wasn't aware of any myself, but it's the lowest priced 'burb that I'm aware of, unless he's going further out like Perry or Warsaw...Also def agree with the remote management aspect!

I am absolutely 100% committed to pursuing Real Estate in some capacity or another for a very long time, I am incredibly intrigued by the "no ceiling" aspect of how far you can take this business and I thoroughly enjoy every facet of residential homes from construction to sales to ownership.