Non-Traditional Loans, Seller Financing for example.2.

[As a general rule-of-thumb, ex-primary homes reap very poor cash flow, compared to pure investment buys!

Get a few contractor estimates to get it up to market comps and compare what you could sell it for fixed up vs as is.

Also I think that it may allow us to aquire a larger quantity of traditional home loans since in the future my DTI will be much better ;) ...

And remember, since you are using leverage your return will be higher compared if you were using all cash purchase.

What success have others had when transitioning from a traditional 9 to 5 job to full time real estate investing? 

I haven't had the need to look at traditional SFR properties lately so I'm not sure what that market is looking like right now.

So if I follow, you would be taxed based on the GAIN of the sale of the property compared the the amount that you depreciated the property?

A 2,000 sq.ft. 3bed/2bath home may be able to house an extra person or two when compared to a 1,200 sq.ft. 3bed/2bath.

I would connect with some wholesalers in the area.Also, there are some alternative ways to invest in Real estate for a big return.. for example, there is a desperate need for corporate rentals (furnished short-medium term leases) that pay 3 times per month what a traditional lease would demand.