The goal will be to have the units rented out with 12 month leases in place, yes. 

The goal is to pay this off eventually and use cash flow to save for the next property.

I'd like to own a distressed 2 flat, and begin diving into the areas.The goal would be a to take a 10 year plan of moderate - high risk, and turn $900K into retirement money by 50.

My first goal is to have a passive income of 30k within five years.

I'm excited that you were able to use that to accomplish your goals!

Having goals and a plan to achieve them is crucial to being successful. 

@Chris Seveney, I would first say it depends on your goals, whether you are boots on the ground local or not, and what you're bringing to the deal making table.If you need a flow of deals, you probably need to be on those wholesalers' lists, a good agent, and to do some mailer prospecting.

Do you think you need to do this to accomplish your house hacking goal initially? 

This is more common than you think, so yes, you can do both.

Mind you they drove luxury cars, etc. so it's not like they were wanting for anything...While my initial goal might have been to retire early with this, I've kept cashing out and growing it, as I've started to enjoy the "game".