In the neighborhood of 100 a month which I doubt there would even be 50+ properties that I would need to be financially free.

Also, I haven't run financials yet but it would likely be higher than this

Seattle instituted a law that required landlords to take the first applicant even if a felon or pedophile regardless of your concerns for the safety of you or others.

That is, it can probably do what you are wanting to do, but if in the future you run into financial problems, you lose both properties.

If not than most states have on the State's State Department Website (or something similarly titled) a list of banking institutions who are legally registered as banks in the state you're in.

If you are only flipping a handful of houses a year, you can probably get by with a spreadsheet, but here are some important items you need to track/consider for tax season & business management:Tracking Project Expenses & Revenues to calculate your project Net ProfitTracking Assets/LiabilitiesProfit & Loss Statements showing Profitability of each projectTracking how much you paid each vendor/contractor for filing Annual 1099sActual vs Budget Tracking so you can see what repairs were over/under budgetBank reconciliation to make sure your accounting books match your bank statementsProvides a history of the business, so you can track financial progress or pull past financials in case of an Audit

If looking at this correctly, it will place us essentially into the "financial freedom" area we've been striving for (but we will still keep our day jobs).  

Which leads me to my goals in REI - the end goal is to build a rental portfolio that will provide enough income to allow me to quit my job, but I'm not in a place financially just yet to start that.

Build in risk mitigation and move forward, don't make financial strategy around nostrodomus.

He is a financial guy and here is what he told me:23 UnitsAlmost always 100% occupancy12% Cap RateBuilt in 1993Asking about $1.5MMNo agents would be involved in the deal on either the buy or sell side.