Just came across some interesting properties on auction.com, and they do offer special warranted deeds, I guess it is better than quit claim deeds, which you don't even know if the seller has the right to sell.If you receive special warranted deed and clean up the ones that bank didn't, you are good to go, and may flip to next buyer who would take mortgage.Anyone has experience with special warranted deeds, care to share?

Our goal is to generate enough passive income that my wife can quit her job and I can back away from my business by hiring people to do what I do and manage it from a far and pull a smaller salary.

In the kitchen we held onto a quite old but solid stainless steel countertop and added white glossy cabinets that looked higher end (these seem more popular over here than the US for some reason)

The biggest obstacles to getting started for me are 1) my job, which eats up a large portion of my time, and 2) my inexperience: the moment never feels quite right to dive into something so unfamiliar to me.

I would ask for a cash concession from the seller to cover at least 6 months of the rent she is supposed to be paying and I would have the notice to pay or quit ready to go the instant the closing happens.

Although I have invested in a handful of properties, I'm still quite inexperienced considering I was using a realtor, purchasing cheap MLS listed properties, working on them by myself, etc.

I'll be ready with a notice to quit as soon as I get uncomfortable with the situation.

I was quite satisfied on all aspects of these terms.As for the balloon portion.

The only ways around this that I can think of is with a local investment partner (which would be fine if you trust them) or a property manager, which cuts into your cash flow quite a bit.Similar to Andrew’s response, I’m just buying time, learning as much as I can about real estate, and keeping myself open to opportunities outside of real estate.

My goal is to acquire at least 2 properties (single family homes to triplexes) each year for about 5 to 10 years for the monthly income and be able to replace them with large apartment complexes still for the monthly income.I'd love to meet people in the area who philosophy align with mine or could contribute to achieving it or I could do the same, since while I may not have any real life experiences but I do have quite some book life experiences.I want to take the time to wish all of you a Happy Holidays and may 2014 be a awesome year for you all!!!