And in fairness, not worth doing if you're not making more than that anyway.If he does something like this and it exceeds the SGA (Substantial Gainful Activity) limit he would lose his disability right? 

I feel like we have good systems in place and it is something we feel we are good at and also enjoy!  

There are apps that do it all for you, like DealMachine.

You can offset the passive losses from one rental against the positive income from another rental.Therefore, you will likely have a net $3,000 loss across all the three rentals which you would carry forward.If your depreciation was more than $3,000, you basically made cash-flow or rental income that was not taxed, which is good.Best of luck

I would like to ask the following:1.

Also is there any restriction like time period (at least x months after initiate purchase)?

I also offer boots-on-the-ground services to others who need a local team member.

This way the deal goes through and the seller might make a little bit of money instead of letting it go to foreclosure otherwise I think you'd have to wait some time for the earnest money back like John Clark said.

Due to personal faith based reason, I prefer to only invest in all cash deals that don't involve traditional financing (so typical passive RE options like syndications, RE funds with fixed returns, REITs etc are not a viable option for me). 

I would say Ohio in Middletown or Akron and would more than likely spread that $1M over 2-3 properties.