My fantasy deals for residual income purposes would be:a five star hotel having 120+ rooms with all of the lovely amenities, on-site restaurant... doesn't matter which U.S. housing market so long as its a thriving one.Condominium building with 20-30 units in Philadelphia, PaAn extravagant resort in the Carribeans, maybe my own island.

turning to rentals or renting the house out for residual income and selling when the market gets better.

I have worked in commercial construction for the past 20 years and am looking for a means of providing a residual long term income for for my family.

Short answer; it's cheaper.The lease is 100% expensed along with depreciation of improvements, increased cash flow, building costs are depreciated, residual is written off, tax liability impact is less, if not, they don't go there.

But be sure to factor in the possibility that there may always be some residual smell if you decide to go forward with this deal.

She would then clear up the residual issues she has and purchase it for the set price in 12 mos.

Initially i'd like to focus on distressed properties to rehab and sell, then eventually acquire multi-unit properties to hold long-term and create residual income.

Real Estate Investing seems like the ideal investment to me considering the residual income, leverage, appreciation, etc.I would really appreciate advice from anyone on BP that's willing to give me some.What books should I read?

Hey BP nation! I recently read Brandon Turners 14 Things Real Estate Investors Should Do Every Day and a big one was "Review Your Big Goals".

One of my big goals is to create passive income that I can collect...

It's a group I started with some young professionals looking to make residual money.