We were recently asked at a local REIA how much we spend on our marketing budget to generate seller leads due to the fact we are able to bring in so many off-market deals each week.  

Some have been in business for decades with second generation owners, some are newer with only a few years in the business.Without fail, the vast majority of my calls (70% plus) go straight to a voice message/voice mail system.

This property is a rental that can generate about $150-$200 cash.  

He is Trading to generate $15,000 a month. 

You probably have to generate your own distressed lead sources to get better deals...or invest in the future....in my experience rents in DFW have come up...so maybe your first year is a bit negative, year 2 you get another $50/rent....and as long as you keep up the property and do upgrades on vacancies, and don't just never put money in it and drive it into the ground, value should go up. 

I really would like to have rental properties because of the passive income it generates.

I do think Airbnb has effected all real estate prices for this very reason: buyers of single family homes are no longer just assessing the comps of other sales, but also their ability to generate income from the asset.That being said, most small businesses overall are overvalued.  

An IRA may purchase property and use a mortgage to do so.The mortgage must be non-recourse, meaning no personal guarantee from you.The use of debt-financing within an IRA does incur a small tax known as UDFI, whereby the percentage of the income to the IRA that is generated by the non-IRA (borrowed) money is taxed.  

You also need to stop dreaming about quitting the 9-5, unless you have seven figures of capital there's no way you'll generate cash returns even close to live off of.

When receiving funds from a non-related investor it is important that you have that money in your account for over 60 days (at least the time to generate 2 monthly bank statements).