All in all, if works out, I could cover the mortgage on our current house plus have a little to spare.  

Let's say you have an extra room in your house (maybe your kids are grown, or you have a spare room you keep for eventual guests or you are going on vacation for a month or so).

If I had spare time laying around, sure, but not if time is tight.Thanks again!

By coincidence, our insurance agent for the small business that we run was over this morning, and I learned that he is a property manager in his spare time.

Built 10 years ago and no expense spared, it's a beautiful place with lots of amazing design features.

So, I scrambled a bit, and eventually found (with about 1 week to spare) an investor that had done one or two deals with someone else, so he was familiar with the flip process, but hesitant to go on his own.

http://www.biggerpockets.com/forums/79/topics/69964-how-i-turned-1000-into-five-million-in-real-estate-in-my-spare-timeThis will also give you great information to think about.

But after 2 years of a full time job and basically all of my spare time rehabbing  my primary residence (while having a baby to boot), I'm proud of the result and know I can do it.

I have little spare money (enough to be dangerous but not enough to cover a down payment).2.

It took me four months, but I fixed that apartment up working in my spare time.