My next choice would be a Turnkey  Property that is renovated and managed by some other group of people and your only duty, after your original inspection and an evaluation, is to get a check from them each month. 

@Lee Burns  Once you fine tune the numbers and if you decide to proceed, back to your original question, how to fund it? 

Originally posted by @Jorge Pena:@Ryan Murdock thanks Ryan. 

Originally posted by @Joseph Cameron:@Grant Rothenburger just chiming in here as I am interested in something similar.

Is anyone going back to their deals after a few years to do a retrospective review of their investment to see what their actual returns and outflows are vs what you originally estimated?

I know there is normally a seasoning period for the original property but from what I've read it seems like your original intention is what really matters.I had no intention of selling, but I also didn't know I might make a quick 30k.

Originally posted by @Jeremy Marek:Is not selecting an applicant for a given unit, but keeping their application open in case of other vacancies (for example the application would stay valid for 30 days), the same as a denial? 

Originally posted by @Matthew John:Thanks for the feedback guys. 

Originally posted by @Daniel Pickford:I have $200,000 and I want to turn it into a passive income.Since it's my first time in the real estate world, what would you recommend to be the best way to start and the best thing to do in my situation?

The siding that is currently on the house is from the original build in 1978, and it’s vertical wide planked wood.