And as time goes by, rents will increase and your income will look better and better.My first investment in 2004 made $35 more than the mortgage.

Can you be financially free, sure, consider if you are buying real estate you will no longer have stable income to get a loan.

@Rory DarcyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It's the same skill set but the financial returns and community impact are exponentially greater for everyone.There’s no reason that we can’t and shouldn’t be the ones revitalizing our communities instead of outsiders OR worse nobody at all.There are less opportunities in smaller towns and who is in the best position to truly understand the needs of the community?

My main motivation to eagerly learn is to achieve financial freedom and hopefully one day be able to retire my mom.  

Where comps come in to to compare "cap Rates"  (a measure of financial performance) of recent sales. 

It's just a matter of knowing where to go....oh and this is possible with 0% origination fees and without increasing the rate...not a bait and switch, i have a different compensation model. 

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

I am working on increasing my knowledge and skills on the accounting side of investing.