I'd save this for something you have a HIGH probability to close on and even then have it supplement YOUR research...

The very number of Boomers allowing their 20 something children to live in their basement to "help them out" is only enabling them to be lazy and spoiled. 

The cash enables you to get the property with 20% down which allows for traditional financing with banks. 

Hello my name is Matthew. i found BiggerPockets years ago and have been interested in real estate since i was in high school. i made excuses and let life get in the way for many years.....bad decision seeing i wasted all that time. fast forward to now i am married and have an almost 2 year old son ( wow he grew up so fast). right now i have a decent job with a very caring company but it just isnt enough. though i can save some i wont be able to provide the life for my family i feel that i should. i have been rebuilding my credit for the past 18 months. now is the time for change, yesterday was the time for change I WILL GO DOWN THE PATH TO A BETTER FUTURE. i have listened to almost all the biggerpockets podcasts, read/listened to many books, i am a delivery driver on nantucket island so i listen to audiobooks and podcasts all day while working. i have been started looking for deals but still having a little difficulty analyzing deals. currently i live on cape cod Massachusetts and commute to nantucket everyday. i use the hour long ferry ride each way to search for deals. i have alway been interested in owning enough multi-family homes and apartments to supplement my income. i am currently away from home and my family 14 hours a day, sleep 6 to 7 hours which leaves me spread pretty thin. i am grateful for such a wonderful community that is biggerpockets for coming together and sharing, teaching, helping and building one another. now that i have kind of ramble on i will get back to the point. i am interested in the BRRR strategy particularly with multifamilies 3 units and up. i would also love to learn how to analyze deals better so i can either wholesale them to or partner with other investors. i am not opposed to investing out of state but dont have a team formed yet either in or out of state. i have been all over the country and live in oregon, arizona, north carolina, maine, new hampshire, maine, alaska, and now massachusetts it is great to be here, i appreciate you all and cant wait to know you betterMatthew Hudson

Hello,My name is Lance Wilkins, my wife and I are looking to get into real estate for supplemental and future income.

Regardless of your ultimate ambitions, I'd encourage you to start locally and expand as your resources (time, marketing $, buyers, support team, etc.) enable.

This enabled me to pay my closing costs, including property taxes for this half of the year, insurance premiums for the next 12 months, and the rest in reserves.     

But if you're middle aged with family / kids and want to use the cash flow to supplement lifestyle, take the less riskier investment of B/C SFR's.I for one is in a similar cross roads; currently weighing in the opportunity to buy a C-grade 106 unit vs. a 16-portfolio SFRs.

Building with a small, local builder at around $115/sq foot (mid to high end) and using auctions for many of the materials enable me to have instant equity for this opportunity.  

Now (recently) having sold that house, we're looking to reinvest the equity into flips (when the numbers/market allow for it) and rentals (preferably small multi's or small apartment complexes) - with the goal of building up a rental portfolio that supplements the W2 income (maybe one day near retirement it could replace it?).