Once the mortgage is paid off (by the tenant through rent), your cash flow will increase or as they pay down the mortgage, if you sell it you have a nice chunk of change.

@Kevin Nichols You have to fall into their parameters just like any lender, but they're legitimate.

Go over the mortgage numbers with a fine tooth comb.

I had no idea that buyers were purchasing these homes with subprime mortgages.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My gross monthly average since November is about $3k per month, and my net outside of my mortgage is about $2k per month.

These are just a few ways to begin making contacts and learning about the strategies available to you.Once you decide on a strategy, I'd recommend connecting with an investor-friendly lender who will give you an idea of how much you qualify to borrow for your first property.As you progress in this initial research phase, your goals and action plans will become clearer.All the best!

Is there anyone on here operating in Jacksonville, NC or WIlmington, NC in any capacity (investor, agent, lender, etc.)?

My wife and I buy the homes with cash we borrow from a hard money lender. 

I will look for 2 other lenders who are also going to be comparable national banks.