Also, regarding the financing aspect - what is the most effective and efficient way to go about it?

However, I want to make sure I use the funds accordingly along with effectively make payments back and flipping properties at the same time.

Then I'd likely try to live in the MIL but rent out the rest of the house (rent out 80% of the house in effect).Here's my question:My client would prefer to give me a lodging reimbursement or stipend regardless  (e.g., $1000/month), even if I was staying in a place I owned, as that scenario is much cheaper for them than reimbursing my hotels.  

I was under the impression that if a house was $500k and you brought in $300k of your own cash, you could get a high interest hard money loan for $200k to allow you to effectively purchase the property for $500k cash.

Learn real estate first, not how to deal in real estate, then learn finance and broaden your knowledge in related areas that effect real estate transactions, like business law.

There are also smaller scale meetups available on meetup.comHere are some great books that I have read and have provided some great insight not only in Real Estate, but also in life.Ultimate Beginner’s Guide – Here on BiggerPockers under “Education” then “Guide”Millionaire Real Estate Investor- Gary KellerRich Dad Poor Dad- Robert KiyosakiReal Estate Advantages– Sharon Lechter and Garrett SuttonThe ABCs of Real Estate Investing– Ken McElroyThink and Grow Rich– Napoleon HillThe Seven Habits of Highly Effective People– Stephen CoveyHow to Win Friends and Influence People– Dale CarnegieE-Myth- Michael E.

Welcome to BiggerpocketsWhile real estate is excellent to build a fortune,a job makes for a living and down payments.Many BP members here do real estate investing part-timeThere are skills(marketing to motivated sellers, negotiating a great deal,financing a purchase/exit strategies etc) to be mastered to make for financial freedomSure,you have come to the right place.Read, listen,learn, engage the communitySee you in the forums

@Karen MoysiIn OH there is an awesome law for Sellers on Land Contract:The seller can try to evict you if the contract has been in effect for less than five years and you have paid less than 20 percent of the purchase price.

However credit score may effect the interest rate which you receive on this loan.

The $1M cap is an important restriction, but I actually think forcing issuers to have audited financial statements for raises over $500k on their 2nd offering will effectively make the cap $500k for real estate operators.