And it's not just a generational way of thinking either, it's been that way for 75 or 80 years, since we adopted rules of the game. :)    

For example, suppose each property you buy generates a net cash flow of $250/Mo.

You don't need all of the marketing materials that others have and can save yourself a lot of money by putting them off until you start generating a profit.  

Steven, I have been working on a rehab cost estimating calculator that is algorithmically based (meaning it does not require very much user knowledge or input to generate a ballpark budget). 

Teams can certainly generate big money.

I would like to flip homes, and eventually have a handful of free and clear, buy and holds that generate $1000-1500/mo each.In 2001 I ordered a Real Estate Agent course online that was going to prepare me for the state test but at that time in my life I wasn't as dedicated as I should have been, so I never finished the course work.

In fact, my parents rented their whole lives but I've learned it only takes one generation to build wealth and it can last for many generations if you pass down both a financial legacy and an educational one.  

In the end, the properties have to generate decent returns (i.e. usually cap rates on real NOI>7%).  

hi there,i'm wanting to get into more of a long game scenario w buy&holds, but keep hearing that wholesales, flips, etc. are a great way to generate some quick (or quicker) profit that can then be used to help to fund the b&h strategy. i don't know the beginnings, however, of what to look for/watch out for in relation to that sort of strategy. this was just sent to me by zillow because it's in the area i've been looking: http://www.zillow.com/homes/for_sale/fsba,fsbo,for...it's a super solid area with incredibly high demand. this could end up being a buy & hold, actually, since it fits a lot of the things we've been looking for and is in the area we'd prefer no less.i guess my question is simply this: how do i best assess this in terms of it being an REO?

Check with your 401k administrator to see if this is possible with your plan through an "in-service" distribution.There is no financial level of qualification, but setting up a plan requires that you have sufficient capital to A) conduct the type of investments you wish and B) generate sufficient returns to justify the cost and effort of establishing the plan.Plan services and fees vary greatly.