Using your cash, there's no limitations here except what you have 120k. 

You don't tear off the old roof except to get at the sheeting where necessary.

People are confusing the exceptions for having 2 FHA loans at once with the FHA rule for counting rental income.

If you want to be an LP on 2-3 deals lets say to get you started, typically GPs are asking for $50,000-$100,000 cash that will be tied up for 3-5-7 years on each deal...of course there are exceptions where maybe you can put in $5000-$25,000, but those are more rare, and you're probably not going to become a millionaire with $5000 investment.My thought is before you commit a big chunk of money is go to one of the 2-3 day seminars probably for $300-$1200 or so and network like crazy.....go armed with a list of questions to ask people. 

But—as with all rules—there are exceptions.

.- Judges often throw these out:(5) Eviction Notice for Nonpayment of Rent: sent ASAP- In Michigan, it's a 7-Day Notice- Our staff bulk sends on the 6th of each month, no exceptions- Even our best tenants get them and we just tell them it's automated and they can ignore if they payRecommend you have a detailed Eviction Procedure and follow it!

@Emily Ellis I'm not a lawyer, however several properties in my area I found thru 2 separate wholesalers, turns out they were marketing a property which was listed on the mls and they were "in contract" which was bs, ended up one of my agents brokers were the listing as g ed NY and pulled the the excepted offers from them.

At this point we are not able to find a solution except that we need to hire a lawyer which will add to the cost.

The lone exception is rent control type regulations and/or affordable housing requirements.

Except I am thinking instead of an S&P fund, buying some cash flowing properties so that I can better set myself up to retire from my W2 off passive income.