Hi Rose- Few things to note about buying an investment property.1) Expect to be putting down 25%, as this is most lender's required downpayment on "investment" properties.2) You likely won't be cashflow positive unless you are putting >50% down, OR are buying in a C-class or worse neighborhood.3) Starting out with a condo or townhouse could be a great idea if you're just looking to get your feet wet with landlording- It is less maintenance than SFH or MFH, and you will gain invaluable experience managing a tenant.Aside from the financial challenges, I think it's great that you have the mindset to grow your portfolio.

You'll find a way better ROI with a wholesale if you can find one that doesn't require a ton of rehab 

After recently speaking to loan professionals I have become aware of the fact that after you have a couple of properties lenders will require that you have 3-6 months of reserves for your loan payments for each properties on hand. 

You can’t add value to stocks, they don't cash flow, they can’t be insured, no depreciation for taxes and so on.There are RMD requirements on traditional retirement accounts which makes it difficult to plan to pass on to children.

@Alex EvansNo, it's not required.

The DSCR is a bit more expensive, but it only cash-flows the property and does not require them to do a full-income documentation loan to you.

It is thier screening process, their requirements to rent, etc. that you should be focused in on to ensure they are doing their due diligence to finding the best possible renters for you.

@Josh Thomas most cities in Metro Detroit got so tired of OOS investors flaunting the rules via LLCs, as you are suggesting, that they now require someone to be liable that lives within 25 miles of the property - usually a person at a PMC.Most duplexes have a side door that both tenants can use to access basement.

You don't need to tell them your address just say if I were to do this does it require a permit? 

Think of "driving for dollars"—that is, physically searching communities for foreclosed or distressed properties.