You will need to understand the concepts above so that when you approach a private lender or a hard money lender, you can explain to him, why your deal works. 

Can someone please post the link to the right threads to go cover the below concepts, I am not quite finding the details I am interested in hearing more about.So you buy a Note for cashflow (for the exercise, it's a new PN).

The best we can do is make ourselves available, and engage our kids' minds in our endeavors as much as possible.Instead of trying to make your kids into RE investors like yourselves, teach them the concepts of pursuing passions, setting goals, and making deliberate choices to attain those goals.

I can't just add journal entries or credits, because I need the account to reconcile. 

While a valuable concept, we don't see this coming up in the short to medium term.In the meantime, here are some great ways to network locally in order to meet investors local to your region:1) go to www.biggerpockets.com/meet and search for investors near your zip code.2) be sure to use keywords in your post including local city and state names (you used Akron and Cleveland, which is a great start) - investors are scheduling alerts for these keywords and will be more likely to see your post if you use them appropriately.3) set up those keywords yourself and connect with people that invest in or are interested in your area.  

Risk is a tricky concept.  

I would prefer to utilize technology, or create a unique service concept that truly brings new value to the market. 

Don't like the concept of wholesaling but want to just collect rents and spend the income.

If you play cashflow 101 and 202 and understand the concepts then you should be looking to get started actually investing.

Since it might be a new concept to some, you might add that when I obtain a contract I disclose to the property owner that I may assign my contract to a buyer I know or another party I work with to get the property sold as agreed