With the job I have, it's kind of my escape on my way home, especially on days where I take an absolute beating so I jumped on the laptop and searched, "what requirements do banks require in order to finance a beach rental property?"

I'm a fan of renting to pets in houses and duplexes, and perhaps cats if it's an apartment with no common area (with a limit of one).

You can not grow by stuffing your money under your mattress.Your plan is common for first time investors and not really realistic.

@Alex Grey Very much appreciate the kind words and look forward to the the many deals that are sure to come your (our) way!  

(since mortgage is not paid off i do not own the property therefor i cannot place property on section 8)Now i know what you are thinking, Decision 2 would be the best route to take, but unfortunately if i do that, i am more likely to have problems renting the property because of these common issues...1.

The only thing I would add to it is that when you do go to your local REIA meeting, network to find a fellow investor doing the kind of investing your want to focus on.Offer to assist them with anything they may need (finding deals, painting their flips, organization, letter campaign's, etc) in exchange for their mentorship.

;)Inspection time is negotiable, 10 days is common, but you can ask for more or less days.

What kind of money did you have to invest initially?

All kinds of stories of people "negotiating" with people in their 90's or someone who just lost a parent leaves a bad taste in my mouth.

Not sure what line of work you're in, or what level you're at, but it is pretty common these days for companies to be paying for relocation and/or a short-term housing allowance for new employees who have to move.