Eventually when I build up my capital I will start working on more long term holding scenarios.

Hubby and I  bought a 2 family last year and rehabbed it, we are hoping to sell it next year for a profit (60-80K) and use that capital to start flipping homes and eventually do this full time. 

Also have you considered a lease to buy option from the seller which means you will eventually own the properties?  

A nice new construction single family rental in an A class area with A class tenants may be the 40% rule.Remember, the 50% rule assumes LONG TERM -- potentially 30 years or more...So, that older Class C will eventually have to undergo a big rehab and the expense ratio will drop. 

I aspire to be able to use real estate investing to pay for my son's college and eventually quit my job to invest full time!

Initially I was going to start buying and renting property and have looked into a llc and am also starting to look at a series llc as I am planning to eventually having property in multiple states.

For the moment, flips allow me to build up cash to eventually buy a 24+ apartment building and increase my net asset value. 

After a couple months of searching I found a few deals through the MLS that were decent with the financial #s even if they fell more into the $30k PIGS that some of you talk about (I disagree to a certain extent on the $30k homes being PIGS if you know what your doing and become selective on the deals you get involved in) & made some offers....after some back and forth on things I eventually settled on a home that needed rehab.  

Long term goals are to eventually invest in Minnesota...

Stay genuine and eventually you’ll found some great mentors, friends and colleagues who click with you.9) Figure out what you want out of life.