Meeting other investors and hearing about their residual income from rentals and profits from flipping within 15 years made us want to stop talking about real estate and just do real estate.This year we plan on investing in at least 2 homes, one rental and one flip, so we can gain a better understanding of how the process works.

The next strategy would need to include adding a new permanent residence, with the residuals going to the next rental investment.  

@Andrew Jennings Freerks Andrew I built an Excel workbook that uses newly constructed single family homes to do a residual analysis for hard cost.Hard Cost typically represents 70% to 75% of total project cost.

back that number out.that leaves you with residual dollars to pay for the land and develop it.developing 6k sq lots with city sewer water and storm drains will run you 30k to 45k per lot. 

There are a lot of services out there that are based on residual estimated (which won't help your case if in audit). 

Tough to get all the grease residue out after decades of use & the fire/insurance claim paid for a complete overhaul. 

I would miss out on the residual income but I rather focus my attention on other real estate interests, other businesses I'm involved with, and not be away from home much longer. 

I was interested in creating some semi passive residual income in my life.

Once your at that point, you spray the glue residue with water, and it should be able to come off pretty easily with a drywall knife.

We had a vaping tenant & it does leave a residue & a distinctive odor.