Been involved in four successful residential deals over the last few years.

I'm looking to start slow and involve my college student son.I'm looking to start by renting out my current home and buying a rental after I move.Thanks for having me!

I am emotionally involved in my current house because of my neighbors.

Account Closed.

I provide a bank savings account at a bank nearby the properties for them to deposit their checks/cash/whatever.  

Later, it's sold and I receive 20% of the net profit.This is purely a money deal on my end (no involvement in rehab or rental).Question - If the property sells quickly (say, within 3 months), and since my profit is paid through a security agreement (I never have title to the property), how would this be treated for tax purposes?

Account Closed, how are you looking for these prooperties?

You'll need a lawyer and accountant to decide the best way to handle ownership since there are rules surrounding syndication (though it doesn't sound like that's really what you're are doing.

I would say get involved in some aspect of real estate though, local meetups, read through the BP books and look for a house hack.  

You have to also account for all the additional repairs and costs that would go into all the units to make it rent ready.