If you were qualified for a VA loan (no money down), have great credit, six figure income to show the bank, how would you get started on becoming a full time real estate investor in the NEAR term?

Hello AllI have been hiding in the shadows for some time now, faithfully watching webinars every Wednesday night, downloading podcasts to listen in car, and reading reading reading from forums to Kyosaki to John Schaub to BP Beginners Guide to REI and whatever else I can get my hands on.Huge believer in the power of passive income and the teachings of Tim Ferris.

Not true with the larger hotels as they only accept cards but I think on many of these they are very profitable as much of the income is not reported.

You'll have income of $2,800.Monthly Cash Flow is NEGATIVE $350.

I'm considering starting an LLC that I can run rental income and expenses through for the main purpose of starting a retirement plan (probably a solo 401k) so that I can start socking away some income into a tax deferred account.

Will the IRA be subject to self employment taxes (because this is a flip) or will it just be taxed as ordinary income? 

The end goal is to have a substantial amount of passive income as well as build equity, to have additional security for my family in case something were to ever happen to myself or my job.  

You will make almost the same amount of money, but you will have income years from now with nothing invested.  

I'm keeping the rental income liquid as emergency money until I get to a certain level, then I'll transfer it to investments - and I have some easily accessible cash to manage any big issues that come up with the property.My question is - I plan to buy two more similar duplexes next year and repeat the same process.

Everyone is different in this situation based on what they have going on in their life.The vacancies on a single family are hard because it will drop your income to 0 for the period it sits.