How do you generate a profit if you can't buy the property? 

This is generally going to be a loan product for a long term buy and hold property. 

I'm buying the property cash, in a trendy neighborhood.

Here is the fee structure:- Flat fee of $595 per transaction (deal over $1M has a higher fee)- 100% commission to agent- Free E&O insurance $1M for every transaction- Updated forms for buy & sale transactions (similar benefits as from the NAR membership)- Annual membership fee of $109X3=$327- No mandate on NAR membership ($550 per year in MA.  

Portfolio income, such as interest does not have any preferential tax rates so it is taxed at your ordinary tax rates.For the average taxpayer, interest income will not be considered active or passive which the original poster is trying to claim(as passive income).You, from my understanding, are in the business of originating and buying notes.

Investment Info:Single-family residence buy & hold investment.

Flipping is not a great option right now if you aren't experienced because regular home buyers are buying a lot of the dumps and overpaying, spinning the market for trash homes up too high to make any money flipping.

Tell the parrents, that the child needs to be added to the lease, and have that child sign all the same documents, and pay for a deposit and pet fee for the cat.  

Quote from @Natalie Johnstone: Hi All - I'm brand new and have a goal to buy a property by EOY. 

Yea sometimes you have to pay for the search and don't end up buying it.