My brother and I will be renovating the property we live in so that after living there for a year we have the freedom to sell the property, refinance and use that equity for a down payment in a different market we're interested in, or rent it out if its able to cash flow.

I welcome any insights and guidance from this forum of experts as I take this bold move towards an ultimate financial freedom.

How cool is it that we have the freedom to have our own opinions -- each based on our own experiences and/or education -- and that we can express those opinions in a public forum!  

In small college town with high rental demandAsk price 745kGross rent: 9750/mth 177k/yr     (differed maint properties with potential 200/mth per unit increase once renovated) estimated reno (190k across portfolio)NOI: 91,475/yr   (12.6 CAP)    (includes tax, ins, listed maint for past yr)     After reno NOI 127,475/yr   (14.6 CAP) Deal info:    - Owner finance 745k 20yr at 6% 20k down minus deposits (~13k)Cashflow  = 2100mth     (self-managed) (self maint similar to the previous owner)By this alone, 2100 cash flow added per month, it will put me at my financial freedom number of monthly cashflow is equal or greater than my families spending amount.

And all it cost's is Freedom.

Hello @Jesse Rathe,So we are on the same page, I will assume that your goal is financial freedom.Financial freedom is more than just replacing your current income.

Is that (financial) freedom? 

I would think that would turn off a lot of applicants, peopel want their own place to have some freedom.  

I'm leaning towards long-term rentals (LTR) but am also eager to dive into fix-and-flip projects to generate quick capital.I'm deeply committed to achieving financial freedom through passive income, and I believe real estate is the perfect avenue to reach this goal.

How many of these deals do you need to execute to achieve your Financial freedom to replace your job?