The fact that you want to save, and you are in a position to "salt-away" some meaningful dollars, is really cool!

But if you're that ultra-successful investor you probably won't want 10 newbie students because you that maybe just 1 of them will do something meaningful and tangible.

So to build any "meaningful" passive income, you'll need 10, 20 or 30+ units (depending on how much income you want).I realized this a while ago when I first started buying rental properties and set a goal to build a portfolio of 50 units by the time I'm 40.

“Shortages of vacant developed lots and regulatory hurdles in Austin make it difficult for meaningful housing development activity to occur within Austin’s city limits.”This is a major issue to be addressed in CodeNEXT, the first major overhaul of Austin's land development code in 30 years:“Next to CodeNEXT, the City’s selection of a new city manager will have the single-greatest impact on the direction of our region’s future and the sustainability of Austin's housing market, so it’s critical that local community stakeholders and business leaders have the opportunity to weigh in on this important decision,” concluded Guthrie.

More meaningful is the #of people working in the US.

Even a "belly in a lateral" isn't very meaningful in this context.  

Whatever it takes to start great, meaningful relationships with the local veterans.Also, I started a blog and need book suggestions so please check it out and leave a comment with any books you believe are valuable to a newbie RE investor!

In a worst case, the seller would sue you for "specific performance" and force you to go through with the sale, or extract yet more money from you.

Then after a simple refinance you are all set.Yes, I realize that "long term historical interest rates have averaged between 5-8%"However that is only meaningful if we live in the same overall economic conditions that were prevalent when 5-8% was actually average. 

One thing you can focus on is stating that you will be putting a "meaningful" amount into the deal.