Our thought here is that we will cash flow enough to cover property taxes, insurance, and management fees and possibly net $500-$1000 per month in profit.

In addition, I live with my parents so even househacking will still cost me over $400 a month, which is what I pay to stay with my parents.

In addition - checking account statements showing deposit income going back X number of months would also do that as well.  

If it's a monthly cash flow then you can buy a few properties in all cash. 

For several months, I prepared to take on a new job that brought in less money, but the schedule allowed me to take on 2 other part-time jobs that carried me to my next chapter.Start small. 

My 10 year goal is to build at least $20,000 a month in passive income in order achieve some financial freedom, but I also see real estate investing as my true passion post military.

What would expenses be over the next 1-5 years.If you buy a $500,000 home in New Jersey with 10% down and a 7% mortgage, your monthly payment will be $4,000 or more (including taxes, insurance).

lately, I’ve been thinking about many different strategies regarding real estate.I originally did wholesaling for a few months but ended up stopping bc it just took up too much of my time especially with my full time job.second, I thought of having rentals but I was hesitant bc I live in NJ & the rental laws here aren’t the greatest and it’s hardly any deals that can justify for the rent to cover the mortage in this expensive market.Right now ive been thinking about possibly flipping properties in my own back yard NJ or possibly out of state where home prices are much lower in certain markets.Anyone have advice if I should possibly flip properties where I live in NJ (blue state) or possibly go into another market and flip virtually..?

You get laid off for a few months and you can lose everything.  

Nothing was more evident than going to the mastermind earlier this month where you had people new to real estate talking and building relationships with people who have been in the industry for years.