I’m considering either the STR or LTR strategy, but haven’t quite decided which would be better / less of a headache.Mortgage is roughly 3250 and I think we could rent for 3450 to 3600.

The real question is I have someone selling me a property at 350K with a 20K builders participation credit and I will be able to use my real estate license for help with the down payment, is this a good deal ?

We own six units ourselves and know about renovations and take pride in where we live, especially when it's someone else's.We're looking for a SFH to rent in the Valley or West LA. 

We finally decided it was just not worth it to do business with these people.

Whether you're a seasoned investor, agent, or someone just as passionate as I am, I would love to learn from your experience and build a meaningful relationship! 

I'll be going from a 3-unit to a 5-unit property.As the project is getting ready to break ground I need to decide on the level of sewer improvements I should do. 

However from a buyer's perspective I'd jump all over an opportunity for someone to lend me money sub-5% at this point. 

Like someone else said today, I wish there was a BP when I started. 

Agree the idea that one can live off of rental income long term is nice but not too common.to me passive income is a place holder to allow you to control the property while is goes up in value over time and once that happens then decide if its a keep or roll into something else.So to me  you either make transactional income in the RE bizz while you grow your passive portfolio or you keep your chosen career while you grow your passive portfolio.The idea that Hey I get to 10k a month and I am quitting and will live the rest of my life on this money to me is not a long term strategy that will play out.. 

Buy and hold is a good strategy.Theft has been an issue during the rehab stages until someone moves in.