They are a large national firm tied to to government.

Keep me posted about your move to Macau - we can certainly meet up easily then!

I don't buy for appreciation, although that is always a nice bonus but I always buy for cash flow (so far in the 10-20% range).Given that, each house typically has 20-25% down.Closing costs are typically about $5,000.All in, for each property, I'm having to to write a check for $25,000-$40,000.From there, I put a renter in it and bam I'm cash flowing.

We're to to help.

Example:$50,000 Purchase$15,000 Rehab (Hard Money Loan) $100,000 ARV When I go to the bank, and I ask to to do a Cash-Out, would they allow me to take $70,000 (70%) of the property?

In my opinion, I feel as if Multi-Family investing is the way to go especially if you're looking to to scale up (which it sounds like you are from the $40k passive income goal.)  

Your main concern should be getting her out and getting it re-rented, end however you need to to be able to move on.  

I'm looking to to start investing in rental properties.

I want to start investing soon, I have about $3,000-4,000 in my back pocket and I am currently saving like crazy so I can move to to New England in about 10 months (I'll drive up to Maine and take you to lunch ).The tricky part is property cost so much more up there than it does in St.

One requirement of doing so is to to have an LLC for your own company.