So here I am; I'm new to this community and have an interest in real estate earning potential.

To that end, I was just talking with my wife, and we both agree that, right now, our two best options are A) go through FHA, if possible, and get a two-family home (we'd be first time buyers), that way we can live in one side and have the other pay our mortgage, and we'll be able to save what we would have spent on rent toward a decent down payment, and B) spend some time REALLY learning how to identify darn good deals, so that, even if we can't buy them, we can wholesale them and earn a little money that we can, again, sock away toward a significant down payment.

I earn my money with a small side business and by flipping houses, which is not a steady enough income for a traditional lender to finance.  

Yes (for us >6000lbs) it was 100% against income in the first year assuming you have the 'earned income' to cover it.

I have capital in savings that would reduce the loan by half, but plan on using that for a down payment on my next purchase . 

My goal is to earn 100,000 and to turn it into 1,000,000 by 30.

Another way is to use an LLC and admit the BP member, use an Operating Agreement, convey capital/equity as earned income to the BP partner.

So if you gift any one person $20k, then you must reduce your lifetime exclusion by $6k.

We are very interested in the buy-and-hold game for passive income to eventually earn enough passive income to quit our day jobs (obviously with realistic goals knowing it will take years).  

Over the years of struggling in this business, trying to put deals together, working to earn a commission or an equity profit, I am blessed to have had the ability to be innovated and with creative imagination to invent systems, techniques and concepts that produced short cuts and made my job easier, rewarding and fun.Some things I have used or invented to help myself and associates to relieve the pressures of this business:A business card that people keep and play with and ask me for moreA Indian Head Nickel that has gotten the attention of bankers, prospects and many people who have received it.