But in the end, creating residual income that will continually grow over time.

Residual income is a must in this industry and this possibly fits the ticket.  

Can I have residual income or am I dreaming?

Don't buy the $40/bag stuff, you can just as easily go with the $10 / bag stuff that you use as tile adhesive (ie: thin set)Get a good texture crew, that goes quickly. 

The overall impression I got from the house is that it was very clean and well maintained, and there were not obvious signs of smoker buildup and residue in side, so I am hopeful that it's true he did not smoke indoors.Does anyone have advice or stories to share regarding smoker remediation, or signs to look for that we should walk away?

Should be able to create residual income, while the property appreciates at a fast pace.

Yes, you can depreciate existing personal property in the house using 5 years accelerated MACRS depreciation, including:AppliancesCarpetingOther "removable" flooring (not adhered or glued down)Drapes, blinds, window treatmentsAwnings attached to houseFancy lighting fixturesYou will need some support for your values, either an appraisal from a used appliance dealer, printout of Craigs List ads, etc.You can also depreciate land improvements over 15 years: landscaping next to house, fencing, sidewalk, driveway.You need to subtract all of this from the total costs, and depreciate the residual over the standard 27.5 years.

That's it with no more payments again.I don't do anything where there is reacurring payment or you have to access their system online or only have the product for a year etc.All those strategies are to leach payment from you over time and keep you poor.All of these guru's secret word is RESIDUALS .It's not upfront money but what they can get out of you over time.

I am trying to learn as much as I can about real estate investing as my goal is to build a portfolio of properties and use the residual income to subsidize my monthly expenses by up to 15% in the near term and then 10 to 15 years out have my monthly portfolio income completely finance my lifestyle.

The idea of residuals every month seem more appealing to me.Could you also break down a sample pay structure as well?