It all depends on the scale and size of what you are investing in.I would encourage you to meet up with other landlords in your area.Have lunch or dinner and talk about the pro's and con's of the business.From there you will validate a more clear path for yourself of what you want.Smaller apartments buildings such as 2 to 10 units are self-manageable and I see many investors who can do this and be okay.When you start getting up into the mid size properties say 20 to 100 units you have to be doing them full time.Especially older buildings where issues will come up more frequently.The larger size buildings will many times have a live in property manager with a staff to handle maintenance and other issues that come up.A base plus bonus is needed to keep the property manager and others motivated and to decrease turnover.Each time you have to train a new person it costs you much more.Just like getting new customers versus cultivating existing relationships.Will you be paying cash or using regular bank financing??

It takes time to cultivate those relationships.Are you sure you can't close in 45 days?

I've attended my local REIA for the last two years and cultivated a small network of private money lenders.

You could place your license with us...We are a HUD Brokerage across Central & Southern Florida, where all of us are investors.Most of our clients are also investors as well, and we cultivate that market to assist with purchasing HUD properties for them.

In that way they can set there own rules to some extent.Then I will say start to cultivate relationship from there.

Please feel free to elaborate on how you cultivated the mindset to get started on real estate and how your mind set changed with every success and failure to eventually lead you to where you are today!

not sure), and a very carefully cultivated relationship with a large, cash-rich organization who was also professional, and in desperate need of inventory.   

Comments, good and bad are welcome, but please don't ask me silly micro-managed questions, keeping the 30,000 foot view of this game is critical, and a skill that needs to be cultivated. 

I've bought some of my best deals this way.I cultivate relationships with title attorneys, accountants, property managers, bank managers and make sure they know I am always looking for homes where the owner/landlord wants out but doesn't want to advertise and doesn't want to disturb the tenants.I also find a lot of good deals by looking through FSBO sites.In other words I avoid the MLS and realtors pretty much completely and I don't look for houses needing rehabbing.

Best thing to do is to talk to people that have used them before...When you get in the game a little you can spot the BS a mile away, but starting out just know there are plenty of people trying to separate you from your money on the promise of easy riches.Your true private lenders are people you cultivate from friends/family, etc.