The market in his area certainly didn't support their asking price.

I have no data to back up my opinion), I'll bet you would find that many who have made their fortunes in RE made it from appreciation, not cash flow.I'd love to hear thoughts on this and hopefully I qualified my comments enough to indicate that I don't believe on betting strictly on appreciation, especially if you can't support the property that you are buying with your reserves.

I want to be an investor and make enough money to support a family.

I agree with the others that quitting your day job is not a good idea unless your wife is willing to support you for a few years, while you get your business started.

Improving your math skills if they are not great is another key skill.Part-time work: Property management, construction, sales in a hardware store, almost any sales job where you are dealing with the public on a regular basis, working as a support person for a real estate agent who is very active (marketing, web support, etc), admin work for a mortgage broker.

As you buy more then i would consider into using an llc for each property but the cost of running an llc yearly per property can get expesive but if the income can support it then why not.

Will 400 dollars a week support that?

If they have a lot to sell and are facing pressure (economic or regulatory) then they will also look to dispose of property in bulk.

Like i said before he is my stepson's father and he owes my wife child support and he is the type of guy to charge me the most he could then send the money in to child support then i would in turn get my money right back from him.

This has the added advantage of providing supporting documentation of your administration of the Fair Housing laws.