However, based on your response I'm thinking that's a pretty poor idea.Based on your experience, how would you factor additional CapEx, capital reserves, and turnover? 

After I read Rich Dad Poor Dad, it changed my view on everything and I do not want a stable job with income.

The reason I ask is because I’d like to start looking for my own personal home to buy but I’d like to be smart about my decision and it seems to me the smartest move would be to market the area and type of house I’d personally want to live in.

@Matt Von BargenWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

It was easy to find a house I wanted to renovate and live in because I didn't have to factor in the closing costs at resale when I was making a decision but now that I want to do this for a profit I have not been able to find a property on the MLS that is priced low enough to make sense for a flip.

Alex,  it is really a personal decision. 

Coming out of pocket $20k just doesn't seem like a good investment when I can use that as a down payment on the next rental.I would like to make a decision before winter.

Family is very poor, so I couldn't ask for a loan from them to meet the requirements.

@Jordan FitzsimmonsWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Anthony Talarico JrWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.