Later that year, I attempted finding deals through a realtor friend on the MLS to fix and flip, and ultimately decided it was not the right time to be flipping, but in reality I just was undereducated and underprepared on how to find deals and the possibilities of different types of deals.I'm going to work on networking with cash buyers and build my first marketing campaign and get some deals under contract!  

My ultimate goal is to acquire enough real estate with buy and hold rentals that my passive income meets/exceeds 10k a month.

My ultimate goal is to acquire enough real estate with buy and hold rentals that my passive income meets/exceeds 10k a month.

With that being said, I think it ultimately has to do with what your intentions are with your short and longterm goals for the property.

Read the BP Ultimate Beginner's Guide, then read as many books, forum posts, blogs, podcasts etc. as you can.

I avoid these small wholesale deals (especially after the one I mentioned above) because the taxes could make it not worth the while.Apologies if this is a newbie question, Im used to making more profit and expecting up to 1 year of property taxes max, getting a discount at the beginning, then playing catchup at the end, ultimately paying p. taxes for the time I hold and carry the property.

I ultimately obtained a Real Estate License (NJ) and became a property manager for a company in NJ.

But their ultimate goal is to get a paying tenant - whether it's the current person or a future person - and the auctions do not usually bring a profit....the winning amount usually goes towards the amount delinquent. 

Ultimately, I'm not too concerned with short term price fluctuations - it's about having the liquidity to survive a 3-5 year recession and the associated declines in rents.

I buy property with the intent of surviving a serious down turn by buying Subject To and selling to Tenant Buyers which protects my long position.