As you can see I'm in need of some direction and need a place to start concentrating my studies so I can break into the business.I am so happy a community like this exists and have already been reading tons of articles, blogs and posts.

You can always transfer your existing properties into a trust or an LLC.

They're out there, but picking up properties with enough equity that making it interesting to investors and borrowers are willing to walk away from is a rare thing indeed.To answer your question though, there are opportunities to pick up properties subject to existing financing by just paying the reinstatement fee (which are usually $thousands).  

Many banks require a year or two tax returns showing that you have experience managing the properties which may be the most difficult thing depending on how long you've had them (your income itself really shouldn't be a huge factor based on those numbers)Your existing properties could be offered as collateral as well, but that's a bit higher risk and I wouldn't suggest it.Another option would be to "house hack".

This thread however has the underlying notion that a caveat existed beyond what we've talked about already, and you guys are right, there is.

these Tacoma deals do exist but they are getting rarer.

Since my last post was removed here is a better pictorial representation to bypass the irony filters:In fairness the question may have been serious so I will try to avoid being a complete jerk and say that if such a miracle site existed everyone on BP would immediately be instantly wealthy (on paper at least) and many investors would be investing in ridiculously risky investments.  

I like to ask, how much do,u need above your existing mortgage, how soon do,u want to settle.You need to show the seller the benefits of taking back some paper; interest payments, show the seller how much they are making over the term of the mortgage, let them know they can discount the the note for cash when they need it, use the note as a down payment on another purchase, split the notes, pledge the note as security for a loan, give it to their kid for college cash or just keep it in their cash flow portfolio.  

See you are in California too, and you need to look up and understand Community Property law in this state.Regardless of how the the title is registered, whatever the husband owns, the wife has 50% interest in and conversely, so your goal dies before you get started with this attempt.Personal, non-legal opinion:You could create and LLC and purchase property in that name  ORdeed existing property into an LLC - - both of which create taxable events.

Some of the highlights are:“Florida is positioned to become one of the hottest spots in the country with rising demand, positive gains in recovery, really good fundamentals and positive momentum,” "Existing home prices will appreciate 3 percent; existing home sales will grow 3 percent to 5.4 million; new home sales will grow 16 percent to 580,000; and housing starts will increase 12 percent..."