Although I have invested in a handful of properties, I'm still quite inexperienced considering I was using a realtor, purchasing cheap MLS listed properties, working on them by myself, etc.

I'll be ready with a notice to quit as soon as I get uncomfortable with the situation.

I was quite satisfied on all aspects of these terms.As for the balloon portion.

The only ways around this that I can think of is with a local investment partner (which would be fine if you trust them) or a property manager, which cuts into your cash flow quite a bit.Similar to Andrew’s response, I’m just buying time, learning as much as I can about real estate, and keeping myself open to opportunities outside of real estate.

My goal is to acquire at least 2 properties (single family homes to triplexes) each year for about 5 to 10 years for the monthly income and be able to replace them with large apartment complexes still for the monthly income.I'd love to meet people in the area who philosophy align with mine or could contribute to achieving it or I could do the same, since while I may not have any real life experiences but I do have quite some book life experiences.I want to take the time to wish all of you a Happy Holidays and may 2014 be a awesome year for you all!!!

Not having to constantly screen new tenants, fix up during a vacancy and such saves quite a bit of time and money.

I'm not sure of the COL in Portland but the city of angels is quite costly.

The one thing I did like was that even though their initial offering was so bad, they actually revamped the terms quite a bit in a really short period of time.

I have used Meridian Title in the past and know the folks at Meridian quite well.

It is quite exciting and nerve racking at the same time.Looking at doing a buy and hold strategy to generate passive income (I will sell if the market is right and I can upgrade properties).