Ultimately he came down to $525k, whereupon I told seller that I wanted to think about it before offering $500k at which point the deal was dead.My questions are as follows:1) I was very conscious of the price point.

The capital promised never seem to appear when needed, and the business ultimately failed.

In terms of goals, he wants passive income to support his lifestyle so he can ultimately quit his day job.

So in reality you would only be saving 3% and there would be less motivated buyers viewing their home, which typically results in lower offers and ultimately a lower sales price. 

My ultimate goal with getting into real estate investing is that Erin and I are building toward more freedom, and the wealth required to live the life we want to live now and into our future (including retirement).

@Ali QudsiUnless you are some not-for-profit organization - you will be required to pay property taxes.There are some instances that you buy a newly developed land/building and the county strikes a deal with you that you won't have to pay property taxes for X years but will ultimately have to pay them once the period is over.You can decrease your taxable income related to rental properties with depreciation.

They ultimately own the underlying property indirectly through the investment vehicleA, B, C, D, E form Partnership ABCDE.

@Keith Weigand want to build capital so I'll be starting wholesaling ultimate goal is to do fix and flips!!!

I survived and learned lessons.

Yet, after listening to you it almost seems like we should be searching out other deals and getting money from private people as early as possible.Much like you I have a little experience in construction from my college days (working for a contractor on my days off from school and over summers but I'm not a craftsmen), so there is a small advantage there, but ultimately it sounds like if I want to get to that "freedom number" faster, or at least earlier, I'm going to have to figure out how to scale.I'm under no delusions that I am an expert after one deal, but I thought that after doing 2-3 deals and making them successful we would then have the creditably to get loans from others to really acquire some volume.