With your seed money, starting with multiple units right off the bat could leverage your entry into real estate investment and rapidly scale your portfolio to help you replace your 9-5.

In California, you'll almost always be in the money under $1M.

Everything is easier and money is cheaper w/o the LLC.

If I buy a place on seller finance and it needs rehab, where do I get the money for that rehab and how do I pay it back?

So if you make 10% the first year on $1 of equity (so 1.1x your money), you need to make 10% off the 1.1x starting point (so 1.1*1.1 = 1.21x) to maintain a 10% average CAGR across the two years.In your example, if the $800 per month is after interest, then you made a 38% return (CAGR) for that year ($800*12/$25,000).

I'm not a fan of borrowing money to borrow money.

Permitting takes time and time is money.  

Leslie is right on the money! 

It seems like the money is out there, but the mood is uncertain.

The Cancelation:In Minnesota, a buyer can send a cancelation during the inspection contingency period,  and expect to get all their earnest money back; and that's exactly what we did.