As far as my why, I too want to build passive income so that I can accelerate paying off debt and saving for retirement.

I carry no debts other than the Heloc on my primary.

After all documents are signed and payments exchanged, buyers generally take possession of the keys unless a separate agreement has been reached to allow the seller stay in the property for a period after closing.

But you need to subtract the debt out. 

You increased your debt load, increase your risk, and it appears you will have negative cash flow? 

anyone who does a 30yr loan is crazy but I am debt averse so I suppose I am the crazy one. 

But your right I was talking to a flipper in LA at a conference and they do 600 to800k houses and were averaging about 15k per flip.. but they did 80 of them.. so while they made over a million for the year thats a ton of work and debt to manage.If your going to be successful flipping you have to be able to do volume as you clearly denote.. one at a time unless your hitting big numbers..

$4.5m debt. 15 properties held free and clear. 15 have 15yr loans with a 15yr amo, sub 4% rate.

What are you coming out with after your debt service?

They are absolutely thrilled with the 8% coupon tax deferred and the rest (debt pay down and forced appreciation) is icing on the cake!