Generate a cash flow from the current house...you didn't mention the size but it sounds like the monthly rent would cover the PITI.

I have been using this technique to generate leads in my local area for a couple years now.

Over the past 10 years of investing in Real Estate I have gotten more and more frustrated with the utility bills and waste generated from the tenants in my buildings.I have since worked closely with a micro wind-turbine manufacturer out of California and have really concentrated on making the idea of having GREEN power & GREEN reuse on my buildings a reality.Well, about 4 months ago, I joined an idea competition on a website called IDEABLOB, hosted by a credit card company.

My life goal is to put my family in a position to be financially successful multiple generations from now.

It depends on how hands on or off you want to be with your business: how much money you want to generate, in what length of time you want to accumulate that wealth , etc. 

:)It is true that multifamily is valued by the income stream that it generates. 

If your not working with an investor friendly realtor you can go to Bullforms Texas and generate these contracts.

My feeling is that this house has been an easy, and passive, cash flow generator for him, but he is not interested in rolling up his sleeves and taking the time to rehab it in order to increase its value.However, he has hinted to me that he wants to sell the house as well as his other rentals. 

The property is generating $2,050.00 per month. 

I would like to generate about 6000.00 to 8000.00 a month in positive cash flow.