And I am not going for a passive income - I am going to someday be on the same level as someone like Grant Cardone, but with a strategy of higher ethics.

Look into syndications, but vet the operators first, that is passive income as an LP, not owning rental properties.

There are lots of basic calculators online, including right here under the 'tool' tab at the top to help run numbers to see if the deal makes sense.

I am a 16 year old planning to form an LLC under my parents name in order to qualify for business credit to cover the down payment on my first investment property I will also pair the business credit I am able to qualify for with cash and refinance to pay off the down payment when the interest starts to kick in but I am wondering if when applying for a FHA loan on an investment property if they require income to qualify or if they will accept it because I will be renting and covering the mortgage with the rent and how that all works when qualifying and if this is even possible. 

Knowing what you are needed an income property to do inside your portfolio will help you narrow down what initial steps make the most sense for you. 3) New construction can have rate buy downs paid for by the builder and new construction comes with a lower repair and cap ex cost the first 10 years (usually). $450k is a big number when only $2500 in rent is coming in the door.

This is the easiest method if you have a strong income or a high savings rate.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

I would use the rental income to hire a maid service to do weekly cleaning for me. 

This type of financing is popular with investors because it doesn't require any income verification.

Once income and expenses are categorized, there's a lot of reports you can generate like the cash flow statement for each property.