I'm thinking down the road after moving out, 4 units will put me at 4600 - 4800/month.  

Then ANY time I see a good deal on used cabinets CHEAP, I pick them up; I stop the ol' mini-van if I see free ones on the side of the road.

@Logan HassingerI'm working towards creating a business in notes that will bring in $5 K per month at a minimum, most likely focused on residential liens possibly with some hard money lending later on down the road.

It comes down to decisions made by them and they subs the use who just slap things together because that's the best they can do.The buying public seems happy to just get a new home that looks good, but a few years down the road they may find out the quality isn't as good as the initial shine.Just my 2 cents. 

May be worthwhile to just start out by getting your feet wet and seeing if you have an appetite for lending and then deciding down the road what fits you.

In terms of investing in properties its great and the real estate market never really takes a hit in Hampton Roads due to the large millitary presence.

I have spent the last 2 years getting my finances straight and am now on the road to saving for my first rental property.

Don't bend your criteria as it will create headaches down the road. 

I would probably have to pay the 10% penalty for the lump sum payout, but I believe I could do a 72t down the road for Cashflow if I switched it to an IRA.

Think 10 years down the road, you will have $228K PLUS you'd still have that equity in the home...yes the home may be worth more by then and rents will also increase, but you get the idea.