This leads to a decision - do I pocket whatever little money I am making and call it CF, or do I set it aside for reserves for when the water heater does need replaced...?

@Ned Carey - I think that's good advice, and conservative as well, but @Rob Wilcox got into buy-and-hold and apparently has done it successfully- maybe he would do well to diversify into building from the ground up.I've shied away from it for the reasons you mention, but dealing with 100+ units of housing, most of which was built over 100 years ago, occasionally leads me to think wistfully about new construction.

Hey! I'm a buy and hold investor currently devoting all of my time to finding great deals. I am currently looking to link up with someone in San Diego to complete these deals and move towards financial independence. I...

Im itching to start cold calling and I just want to know where are investors getting their cold calling leads from or what other techniques are you using.

I have a good network but I feel it could be better, Im in a hot market but the wholesalers are starting to really make alot of money without touching the properties and I feel I got the DIY experience I was looking for so Im now writing my own letters and about to start mailing them out today and Ive also looked into some online back office autopilot software that claims to generate leads for a monthly fee.

@Josue Godoy This is a loaded question- If you are planning on being very specialized in a single area it would make sense to go one way or another...this is an oversimplification, but the point is to be diverse enough that you can process any type of deal...for example, really focus on an area you like well...like flipping, but learn how to hold properties as well, and whatever else you want to learn...as you grow, you'll be receiving many leads from different sources...and the point of this rationale is that you should have enough tools in your toolbelt to put your deals in a "best use" funnel...then profit on the other side.I'm only adopting this position because you are so young and have so much time in the industry to elect to pursue and specialize in one strategy.The simple answer is related to your goals...assuming you want passive income to replace your W2 means that you will need to buy and hold properties...similarly, if you start flipping properties, you're creating another job for yourself and creating a liability.

What leading questions can I ask her to make this work in her favor?  

The partner’s sons will not trouble you much, but look out that some boys poorer, much poorer than yourselves, whose parents cannot afford to give them the advantages of a course in this institute, advantages which should give you a decided lead in the race–look out that such boys do not challenge you at the post and pass you at the grand stand.

We don't have any housing authorities with moratoriums. 

I believe that one is free, very easy to learn, and helps keep all of your tasks and leads in order.