I also live in E.

@Katrina E McMahon Cashflow quadrant by Robert K.

Hello, Bp community,Tonight I am reading the e-myth.

My #1 piece of advice is to buy something, just to get the ball rolling and learn.Be smart about it obviously, but don't be one of the lurkers who we see years later who still hasn't bought anything.Experience is worth it's weight in gold.

Wholesaling is transactional.things are changing in some states with the unlicensed activity of assigning contracts.. depends on the state.in Oregon if your business model is to assign contracts  any form of advertising them via e mail  flyers craigslist bp market place etc is deemed an activity that a license is required.. see below from our state regulators. 

There is more expense to a RE license than the initial course: brokerage fees, e and o insurance, MLS subscription, association fees, etc.

I'm working under the assumption that this is a 1-4 unit property that you claim on your Schedule E but even if it's a different property you will have LOTS more deductions besides just the repair work.

Being debt free with outstanding loans takes a huge weight off your shoulders. 

How you take e pool of potential properties and distill it down to a handful and then find the "one"?

If all you are after is passive income, why not just invest in a REIT, bond fund, or a mutual fund heavily weighted in real estate?