It doesn't create uddles of cash but it does create slow and stead cash flow. 

@KevinDarrell My husband and I are also thinking of using our 401Ks as down payment for our first investment property; especially, since we'll pay ourselves back and only have to pay a small processing fee to withdraw funds.

Be slow to move on the subject 2 deals..They look sexy but make sure the cash flow works..1.

I certainly feel your pain in the increase in prices and am curious to see if market prices slow down. 

Here is what i  have done:1)have an LLC that Tenants will write rent checks to, mortgage payments will be on an automatic withdraw from this account and then the cash flow after all expenses will go to pay the investor the loan2) the LLC has an operating agrement between myself and my partnerso do I need a seperate "operating agreement" for this particular triplex? 

., if you are sued for any reason, they cannot come after your personal assets. and lets face it, people are sue happy these days. protect yourself and what you have. second, always borrow money to move ahead in this business. using other peoples money risks none of your money and gives you stronger motivation to work thru the problems you will ultimately encounter. the trouble for you is that the business card will come only wen you can show 2 years worth of tax records on that business. if you form the LLC now, you won't have that 2 years of tax returns to show for.......... two years. you may have to get a card based on your personal information. if you need to, start slow and low, but get started. you will be amazed at what you can do with the little you can start with. good luck

We're going slow and steady with it, dotting our i's and crossing our t's.

I learned the industry the "hard" way slow and steady with a lot of hard knocks and bumps along the rode.

How can I check to see if the permits are really taking so long because of the city, or if he's been slow about following up on their requests?

Should I just slow down?