I saw a lot of guys crash and burn flipping but have been around long term rentals growing up and appreciate the tax benefits and advantages of long term holding(1031exchanges) so I have been evaluating other area like notes, large multifamily, out of state.

Mid-west, seems best suited for my funds and what I want to take on to start.I'm only in year two of REI and started with nothing so it's been a work in progress.

Lend money to investors for repairs charge them interested and ask to see the progress of their work.

Thought I'd show the progress of the same area over the course of the project.House Hack #1: Turn 1000 sqf basement into modern 2/1 basement rental.Total Time = 12 months (I did a lot of the work and so this is the culmination of a lot of evenings and weekends.)Total Cost = 35KDay 0Day 75Day 90Day 150Day 175Day 225Day 350

Definitely, keep reading BP for knowledge and work on qualifying.Do keep us posted on your progress, this is the place to find investing mentors that can answer your questions along the way and even point you to certain people in your area.Anita

It might be fun if you started a thread for each of the properties so we can follow your progress.

My goal is to own enough that the cash flow allows us to retire, when he is done with the military.Pros-*Can use primary residents to become rentals so less money down*Get to explore tons of different towns to evaluate investment possibilities*Can use the VA loan for multiple properties as long as you don't exceed the maximum VA allowance*Understand Tenant needs and cater to them*Maximize Long Term Rental by renting to fellow military*Can save management fees by handling it yourself through the connections you made while you live in the town.Con-*Military can be a demanding schedule.

An agent's advice from five years ago is meaningless, especially if they were assessing the property to make it FHA ready.Ask an agent to come and evaluate the property for an as-is sale.

Be sure to evaluate whether it is worth your time and fits your overall investing plan.

This idea creates an optimal time evaluation where an investment can reap the boost to Total Return through the capital gain and also capture a counterbalancing series of interest payments stabilizing the return.