i am a self-employed contractor looking for a way to i invest in rel estate to obtain financial freedom to be able to spend more time with my three year olds son 

I bought my first home during the peak of the great recession and am now interested in making moves in the real estate in WA but in TX as well for SFH (3/2, 1,100 – 1,500 Sq ft)I joined BiggerPockets as a way to interact with like-minded individuals interested in the industry and hope to learn from many of you in the coming months. 

@James Fulmer that is an awesome idea that I suggest to almost everyone getting started with investing.Welcome to BP, there is lots of info here that will educate you on selecting a duplex that meets your personal and financial needs.What part of NC will you be relocating to?

Cap rates come from closed sales that are analyzed by an independent professional third party.Crap rates are fictitious numbers made up by clueless individuals trying to scam newbie investors.There is no reason for you to be trying to calculate either.

Your parents already own a home, and you currently live with them, you seem close to them and you know better than anyone else what their financial situation is like.

I did something similar, after a long career in something unrelated to real estate and only after I had some experience like you in acquiring rental properties, some property management experience, I realized that if I devoted more attention to it I could accelerate my growth, get financial freedom and be fine.  

My parents had a god awful marriage and it really made the idea really unappealing to me.And I don't want kids until I am financially independent because as harsh as it may seem, children are just walking liabilities.

When I got my property I had some support from my parents in financing, and we got some really good professional help, but with our current financial issues, that level of professional help is well beyond reach.

I got out of active duty military and proceeded to my dreams of working real estate and eventually investing into real estate when the time comes financially.

I've been reading the books, attending RE seminars, and learning how to financially analyze deals.