I have okay earned income as a transportation engineer, some passive income and occasionally some cash.

For me, it's the occasional help with cleaning that is usually my treat.

Once I reached my number in cash flow I would start paying down some of these houses, but I still would buy the occasional house if it met my criteria.  5 houses with no mortgage would be more than enough for cash flow.  10 houses if they still had a mortgage. 

Occasionally I'll find a property that has enough equity but needs to be rehabbed and I assign it to a fellow investor for cash or I take it on myself as a rehab project if it looks like a super deal.Occasionally I'll have a Tenant Buyer choose not to complete their Option Agreement and I wind up reselling to another Tenant Buyer for the same Option fee and same cash flow or Selling as a Turnkey like the two that have just become available.Sometimes I do training for a yearly fee and other times I do a Joint Venture depending on the student and the state.

Bulk REO buyers post occasionally, but don't see much of actual employees/principals of distressed asset funds, hedge funds, etc. that truly move volume on a bank-direct basis.

I wish you lots of success and I hope you don't mind the occasional question from me ^^

I *always* contract with the intention to buy, but occasionally (often during inspection) it becomes obvious the property might be a better fit for my buddy Jim, who is an electrician, or Bob, who is a plumber, or Dave, who is a GC (all of whom flip houses on the side).

There’s some peace of mind knowing that you can occasionally do some things yourself if you want to.

Having a little nicer unit than the competition IS the difference.Sure, you will still occasionally get the wool pulled over your eyes, and sometimes a tenant will have a true, legitimate, life changing event that affects them, but, Big Picture, my experience has consistently been that a complete tenant turnover, on average, takes three years, and if you have taken the proper steps, you should have a VERY low number of problem tenants once you reach that point.

Occasionally I think you can talk to the lender about helping you out but I’ve never taken that road.I’m not saying that it cannot be taken but I’ve never taken it.