The Property gained roughly 15% value after the first year as the market skyrocketed.

Now I just got to ensure I have the knowledge and references for the jobs to gain the experience.

I purchased my first property (3-family in the Merrimack Valley in Massachusetts) around 6 months ago, and am currently living in one of the units and gaining experience as a landlord while renting out the other two.

Make some upgrades and sell it down the road and invest the profits.If you want to buy a rental and live in it first....then buy cheaper....much cheaper if you can stand it.While some people have traditionally bought, then moved, and rented the old house, you can also loose your nice capital gains exemption this way.   

Closed without problems and quickly gained a tenant.

Closed on property and bundled it with our other 3 for a refinance to gain capital for a new deal in the new year.

So, we could lock in our profit on Home 1 and sell but then we're paying capital gains on top of realtor fees.

The only thing I'd caution is you will most likely get stationed elsewhere at some point, so do your homework early on a great property manager who will take the property over.There's even products for the VA that will fund the rehab of a building, so you can force appreciation and sell it for a gain (or break even), in case you decide being a landlord isn't forceGood luck!

Our long term goal is to build our portfolio and gain passive income to supplement our full time jobs.

I am very eager to learn and gain insight from people who have done it before in the greater Dallas area!