However, if your goal is to generate enough PASSIVE income to be financially free, what is your definition of passive, and what do you want to be doing with your freedom?

In order to generate interest, my experience is you may need to be up to 5-10% under that to sell quickly.

I think of the net proceeds that could be generated by the sale as my invested equity..

Late to the discussion, but Lana, I've read where wholesalers write this or similar copy on some bandit signs to attract cash buyers and they do generate calls from cash investors..."3/2 LOCAL FIXER UPPER ONLY $55K!"

Cuong Le, yes I have seen the properties rented via MLS and they can generate a report of asking rent and actual rent.

The house will most likely rent for 800-850 taking insurance the loan i took and taxes i will only generate about 250$ monthly.

I would probably pay off what loans I had and maybe pay cash for a couple more to generate some more income if you have the time or money to fix it up for cheap.

Mid size institutions can probably take in one more employee in the compliance section without much fanfare, that expense and reports generated being eaten up by higher production levels.

Fortunately for you, you live in a beautiful part of the country, but one of the most difficult local markets to generate a good return and cash-flow from any "investment" here.

REI is one of the top time-honored ways of generating lasting wealth.