just taking out a little at a time (5-15%/month), and thinking you are doing something positive for this, is (I'm trying to not use the word stupid here...so I won't) an illusion at best. 

I intend to focus mainly on mutifamily properties in hopes of eventually reaching the illusive passive income that we're all striving for.I've searched Indeed, Google, and other help wanted-type sites trying to find local real estate investors to contact in hopes that I may be able to offer my time and energy to them in exchange for industry experience or even just the opportunity to network over coffee, but I've had no luck.

Big  come  on that they are private lenders to give the borrower the illusion that this will be cheaper or easier because they are private money when in fact they are a large HML ... so why not just come out with it already why the subterfuge??..  

I too am searching for my first deal and since it has been 11 months since your post I was wondering what software to you decide on and if that illusive first deal has been done.

Sure, I might run into someone that needs to sell "now" but I'm under no illusion that I'm going to be as competitive as someone local when it comes to price.

assigning a contract is contract law and is legal.. ergo me paying a 125k assignment fee.whats NOT legal and what 99% of wholesalers do is they illegally market their contracts to be assigned.this particular deal was done through the very tight knit developer community.. it was not e mailed out to thousand buyers there was no flyer going out to buyers list.. there was no website with the propery shown with the illusion this guy owned it.. it was a high level contractual transaction.. one of my guys introduced us..

Actually, the resulting higher cash flow is an illusion. 

I must admit I had the illusion that Real Estate would be much more glamours and easy.

Scenario #1 above:  0 down payment; Negative CF of $265/M & $3,180/yrStart out of pocket:  $0Cash Flow/year:  ($3,180) ...meaning you fall behind an additional $3,180 every year for 30 years, +$4800/yr after thatBreak Even Point:  40 years; 7 months (your great-grandkids will be thrilled)Scenario #2:  $30k DP; the illusion of $36/Yr PCFCash Flow/yr:  $36 every year for 30 years, then +$4800/yr after thatBreak even point:  6 yearsScenario #3:  $100,000 DP; the bigger illusion of $4800/Yr PCFCash Flow/yr: $4800 every yearBreak even point: 20 years; 10 monthsLosses due to lost opportunity returns;  Assumed 5% simple interest per year until break even pointScenario #1:  NoneScenario #2:  $1500/year x 6(yrs) = $9,000Scenario #3:  $5,000/year x 21 (yrs) = over $100,000

Hoping an owner-financing interest rate will be lower than the bank is...well...likely an illusion.