Let's take a look at the definition of passive income.Investopedia's definition of passive income is "Earnings an individual derives from a rental property, limited partnership or other enterprise in which he or she is not materially involved."

Then when you are 55, you can sell each home as a completely free and clear home (of course, before tax considerations) and use the proceeds as your retirement income for the subsequent 30 years.

General terms (so far) are $750 k offer price with 15-20% down; our broker believes the land is worth about $500 k, the tax records list the property valued at $60 k (we know it worth quite a bit more than that based on some recent comparable sales.)So a couple initial questions are; has anyone ever used owner financing as a tool to acquire a property and then subsequently worked with a more traditional lender to refinance (shortly)thereafter?

I have a question for Derreck, I am aware of the lead paint law for Mass as I was told about it by Enterprise Bank when I was talking with them about the lead paint, but do you know if that is a requirement for NH?

Subsequently I've received an offer from a buyer who wants to buy it as-is. 

-dealing with the new federal and state laws (CFPB, SAFE Act, TILA, RESPA, Dodd Frank, etc)-planning and expanding your business-start by being a technician; then move to manager, then move to entrepreneur (delegating and motivating); The entrepreneur works at the enterprise level, the manager at the business level, and the technician at the practice level. 

Can returns be too high that investors set their expectations too high for any subsequent deal to meet? 

No SP# and subsequently no file available to view at the courthouse.

I can always use subsequent rental income to replenish the cap-ex "fund" and it's unlikely that I'm going to have a roof failure AND 3 HVAC units completely die out AND have to resurface the shared parking all in the same month. 

For BRRRR, you still look at deals like a Flipper would, except your end-user is a Tenant instead of an Owner-Occupier, so accordingly, you rehab differently.If you don't reckon that you can value-add sufficiently so that you're all-in for less than 80% of a Lender's subsequent ARV appraisal (in order to qualify to get all your deposit back again), then, have you really found the right "deal"?