It also sounds as though you did not do an LLC and choose to be treated as a Sub S corp, so the income will also come to you as Earned Income, and will also be subject to Self Employment Tax (although you might have already paid the maximum).I applaud your decision to set up some kind of system before you do anything like this again.  

There are no secrets in real estate, we've been in this basic structure over a hundred years and there is nothing that is really new,  just a new twist to old methods, it's been done before.

I tried to talk to an employment lawyer for my wife once and she wanted $200 just to tell us if the details that we gave her are something we could even pursue.

Connect with others employing that strategy.  

I am young and don't have a lot to invest so I am particularly interested in methods for investing with low start up cash.

Igor,I am in the same boat, I don't think any employer or client will care where I studied for my test.

You will not find market cap rates and it is a less accurate method anyway. 

Is there a preferred method?  

One of the easiest (but more expensive) methods of getting started is with hard money lenders.  

I am sure most of you are aware of the method I am referring to.