But if it's anything like Phoenix, it's a boat that likely already sailed...

Hopefully, that wild ride taught you everything you didn't want to know about real estate, and everything will be smooth sailing from here on out.  

As we hope to be on a boat sailing around the year I have started to think about our options.

Bought an Etchell for $ 500 and donated it to a non-profit, that teaches teenagers how to sail. 

Our goal is to build a cash flow up so that we can sail around the world when we my husband retires from the navy (god and navy wiling ).

Let's hope for smooth sailing from here.

As Brett mentioned above, mistakes are part of learning, so hopefully it can be smooth sailing and still offer some learning solutions for myself.

I have lines available secured by paid off assets, i use the line to be a cash buyer, do the rehab, then have the BPO done, and re-fi the property out, pay off the line, and access cash if needed, (i try not to pull cash out it takes too long to pay them off if you borrow too much)  I would never Partner, I am in full agreement with Dave Ramsey on this, "the only ship that does not sail, is a Partnership"  I know some people are comfortable with partners, but im not. be careful with private money, if the financier is taking 50% that's really expensive money, and consider even if its 50/50, if someone else supplied more than 50% of the money, they are the majority partner in their mind, and can cause real problems.  

Jiminy crispis... u r taking the wind from my sail for sure. 6 months to rehab? 

I am a newbie to REI, need to put together a team in order to go full sail ahead.