I believe from what I have learned about REI thus far, buy and hold real estate is the way to do that. 

Here are some ideas that we've considered.1.

I'm not a fan of the idea of borrowing money from family members, and have never been keen on the idea of borrowing anything from anybody.

Unless you are living in the area where the rental is, managing it remotely is not a good idea. 

North Bay is tough so the numbers that are good there are not the numbers that are good in the midwest.If you are so new, how are you going to even know what is good to look at it until you start looking at properties in your price range to get an idea.

Buy and hold a turnkey SFH with 20-25% down.

I want to buy and hold for rental income.

Even though the cashflow is negative now, would it make sense to hold the property for potential appreciation ? 

Sad part is listing agents are advertising "FHA Assumable Loan" on MLS and they dont understand the process/timing.Is it better to apply for the FHA/secure the loan approval before searching for properties, so once a property is found, the financing is already in place without the 4-6 month hold up?  

Renters: How appealing is the idea of a rent-to-own home to you?