Looking for cash flowing investments in the single family category w/ a goal of financial freedom in 5 years.Joined BiggerPockets after listening to several of the podcasts.

Madeline,You're on the right track, you just need to reorganize some of your numbers to better understand the scenario.First, the 50% rule is a general rule to help quickly analyze the financials on a property, although it seems to be very accurate on average much of the time. 

I am brand new to the idea of financial independence and real estate investing.

My Name is Jason Kunst I live in Northwest Indiana, and I’m looking to start house hacking.I am currently renting with my brother and will be at my current residence for another 18months because we are supporting my m...

I've been listening to BP podcast for awhile now and  I think I'm finally in a place where i need to start making moves to make my dream of financial freedom.

And to your point, the quit claim deed after the mortgage is pointless, you're still obligated on the loan.Sounds like you need a crash course. 

Its a low income neighborhood and the tenant had some financial hardships in the past which I have agreed to overlook in exchange for last month's rent up front (rather than collecting just the first month and a security deposit). 

Hiring out services isn’t going to help you financially that’s for sure .

Long term goal is to gain financial freedom so I don't have to continue to move around as my job request.

I didn't know what I wanted to do with my life right out of college, but her introducing me to real estate helped me to see that there was a financial salvation.