@Patrick Daniel I use my job...lol that is what I do.

It is not good business to pull income from one revenue source to cover a bad deal in another.Perhaps you need to do a better job analyzing the deals completely prior to purchasing the property. 

My rentals are under a sole proprietor, have a W2 job, and partially self managed. 

Will I get accused of mortgage fraud if my job causes me to be away much of the time? 

I am a computer geek by training, but I am interested in generating passive income so that my family can have financial security and the opportunity to travel and have adventures (without the day job). 

It's really helped me to narrow my focus at my day job and eventually will help with real estate I'm sure.Thank you for the book recommendations, I'll definitely have to check those out.

I just finished my M.A. in Education and am starting a job this Fall. 

We still live in Washington state since that is where our jobs are currently.

Option 1: invest in multi family housing Pro- semi reliable income- cuts cost on my living expenditures -recession proof (can be argued)Cons- high cost start (for me at least)- first time managingOption 2: Buy land and try to negotiate a development deal Pro-huge reward -can be fast- after deal is done right, I'm hands offCon-very risky especially for intro-no expertise in this field -finding a great deal in hardOption 3: wholesalePro-great return-can be fast-not long term Con-hard to find good deals especially with a full time job -can be a nightmare project-no expertise Please correct me if I have messed up with any of my pros/cons.

My tenant just informed me that he lost his job and has all his stuff out of the house.