I am eager to learn the in's and out's of Charlotte residential real estate market as well as gain some experience flipping houses while turning a healthy profit for myself and investors. 

At the same time, my market appreciates well so I gain significant value by holding on for the long-term.

Eventually we will pass that responsibility on to someone on our leadership team too.So the route we chose is definitely not passive, but it also made us more comfortable with the investment. 

We lived in the property for 2 years and rented for 2 years to tenants, so by selling now, we ensured that we could avoid capital gains taxes.

You didn’t mention the property or deal specifics, but for many deals in the recent years, there have been amazing and unusual gains due to multiple unnatural circumstances.

I’d like to have 3 single-family homes and the 5-plex paid off by then, which would give me some solid passive income.

Probably not, but I'd see what my CPA and attorneys have to say.Be a pain having tenants pay you twice too.Also, passive income is already treated pretty favorably after deductions such as depreciation.

It sounds like you navigated the challenges well and gained valuable lessons for your next venture.

This allows new investors to gain experience while minimizing risk and maximizing returns right from the start. 

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.