And obviously every year the rent will go up and the current rent is a little under market however I would have to evict so I can get new tenants for going market rate rent. 

We're at a pretty high point in the market so there's a good market cycle argument for going slow as well.However you aren't going to get to $15k/month net in 5 years going slowly.

Love the idea of a 15 yr mortgage, forgo cash flow and let it be my kids college in 16 yrs

Lake county was no different and the towns on NICE Lucerne Clear lake Oaks and Clearlake / Clear lake park were all platted in 1922 to 1926.. the lots in those days were given away in green stamp type programs  as bonus's for going to the movies etc etc.. so then the lots started to get traded at tax sales since they were not buildable.enter the 50. 60 70.. my dads attorney started acquiring 100s to thousands of them in the late 50s my dad started working with him mid 60s and by mid 70s he had done well over 4,000 lots in that county and owned half of Nice most of Clearlake Oaks and probably 1/10 of city of clearlake..

I know a few that charge a flat fee per month, but really they are providing a more limited service.For pricing, you can get a feel for going rents by reviewing Zillow, Trulia, and my favorite Craigslist (if its in your market).

If you are fully approved for a long term loan, now would be a great time to get into a small rehab and get your feet wet with little risk given where rates are and your strategy is long term.If you wait for a buyers market when you can get into deals again at 70-75% of ARV but the fixed rate is 6-8% like it was 10 years ago you are actually in a less favorable position for going long.My advise is get as many rentals as you can right now, start slow if necessary to gain experience.

Selling a couple of duplexes out of 4 to make room for going after apartment buildings.

Especially if you're within 500 feet of a frequent transit line and can forgo some of the parking requirements.

thanks Account Closed i have deff decided to forgo that farm property- or at least that particular one.

But if you're going to use this money as the "down payment" for going to a bank and borrowing the rest of the money, you'll probably need to formalize it.