I would like him to be as passive as possible, while I control the whole asset. 

What are somethings I need to do in order to achieve this goal and to begin working on it immediately!

However, I am trying to figure out what I can do now to start the process, and how I can achieve my goals within a reasonable time frame.Like you said, would it be the best choice just to lower the payments on my current home so that renting it out would be more lucrative?

Hilltop is now more expensive by far than a year ago but the whole area is just now breaking ground on what we'll see over the next 5 years. the east side of I5 only a mile or two as the crow flies is probably the next major neighborhood as there is a clean up project there a well.Lastly, I believe the City has yet ANOTHER major clean up project going in right next to the mall that will consume a couple city blocks, create a new greenbelt and park, etc.Ruston condos are selling for $1m+, and Proctor homes seem to start around $450k for the most part.

I'd like to buy a residential home for myself but I'd like to see if I could get owner financed, either whole or partial. 

If you can't do it yourself the whole job can be done for 100.00 including the material. 

What are somethings I need to do in order to achieve this goal and to begin working on it immediately!

What are somethings I need to do in order to achieve this goal and to begin working on it immediately!

What are somethings I need to do in order to achieve this goal and to begin working on it immediately!

On a rental the schedule is 27.5 years with a mid-month convention, so the month it became a rental is important that's when the depreciation starts, not the whole year.