I'm glad to hear you're interested in turnkey - you'll find a lot of very strong opinions about it here, but if you work with someone you trust and make sure to do very thorough due diligence when finding that provider (which means a lot of research and a lot of questions) then it can absolutely be one of the best ways to generate passive income - like the Blue Chip dividend stocks of REI ;)Regarding your question about cash purchases, it really comes down to what your priorities are.

And it's 100 degrees and humid out there, so that was pretty surprising to me.We also recently stocked our pond with fish.  

I use Stock Building Supply on San Fernando Rd in Glassell Park (LA).  

Account Closed thanks, i feel like im missing out on doing more. i want to buy muti family buy and hold, and have a large portfolio of rentals and end goal own a massive building with commercial space as well. i am waiting till the stock market hits a bad bump before i invest a little in the market for a long term.

Folks in the financial planning business should encourage their clients to consider real estate investments and ownership of small, local businesses.Continually touting only the stock market (Individual stocks, mutual funds, bond products, derivatives, etc.) is getting old."

While I have felt I could take some risk in the stock market, I often felt real estate investing was too risky for me.  

As far as learning through those investments, I'm not sure it would give you any great insight.I personally prefer REITs to CF but if your time horizon is that short you're better off not getting into the stock price volatility of a REIT stock.

Do I take the $120K and save it for a potential recession stock buy? 

Also, if you know the winning lottery numbers and when the stocks will gain and when the next hurricane will hit, let me know.

For example, my goal is to have investments that will beat the long term average stock market return of 6% - 8% and not correlate with stock/bond market performance.You need to tally all of your up-front costs, such as the $350k, closing costs, rehab costs if any, etc.