I have never rented a property or bought for investment but rentals seem strong (reasonable rent listings in the area are not lingering on the market for months at a time).

Also, like many of you, my goal is to generate solid passive income via a strong portfolio of cash flowing properties.Primarily, my aim is to invest in deals generating over 20% cash on cash returns with cap rates above 10% and to build teams that can help accomplish this while everyone wins and has fun!

.$20k is very low - even in many of the more depressed markets which I would strongly question looking at, especially for your first investment.

I would strongly recommend staying away from Barron Property Management unless you're a local owner.  

Is waiting until I have finished creating my on-line presence (website and FB) the wrong way to go before I start marketing to motivated sellers and absentee owners.

I realize they will have PM fees and maybe less appreciation, but hopefully a strong cash flow.

The other option no one has brought up is you can get into an area that has high rental returns by investing with someone else with a strong track record.

That's where cities like Newark and Elizabeth come in.If you're looking to sell retail to owner occupiers then you're looking for areas with strong retail buyer demand.

I can tell you from experience, the investors that have the most positive experience when buying turnkey out of state are the ones who build strong connections with the company they are doing business with and are comfortable asking tough questions.

All the warnings above are valid, and I strongly recommend that you not try to lend. 1.