His reputation in the real estate world is garbage and he loves to say he does not trade time for money yet to find, purchase and renovate over 700 properties, deal with Section 8 tenets, time spent dealing with lawsuits etc he is doing exactly that. 

If for some reason I need to return security deposit at a different time I'll either take the 3mo interest from their security deposit, or I'll do a trade from my reserves. 

Just looking to trade advice.

At my point in life everything I own is both a cash flow superstar and appreciating nicely, because I'm invested in growing, popular areas.If I was just starting off now, I'd probably be aiming for value-add in good areas where I could either live there while improving the unit(s) - ie a duplex, triplex - or where I could trade sweat equity for profit, or both.

When contract is about to reach 5 years, i plan to make some upgrades on the property and ask for re-finance, hopefully pull out some equity and get a fixed rate mortgage.Let me recommend a backup with emergency fund (equivalent to 24 months operating costs).

I personally HATE maintenance, so i find jazzy ways to "trade" that with tenant.

To sacrifice a good tenant, which is hard to come by these days in favor of higher rent, may not be the trade-off that you need or possibly want.

Expect delays and unexpected expenses: No matter how straightforward the project seems, having a contingency fund for emergencies is essential.Your Team matters.

Publication 15, Employer's Tax Guide, says only this much:...Payments for the services of a child under age 18 who works for their parent in a trade or business aren't subject to social security andMedicare taxes...No definition, and IRS publications are not really law anyway.

You'll have the cash in an emergency, and when you have enough,  pay off the house at once, if that's what you want.