This isn't like California or NY where that would work due to limited space and expensive cost of living.

Individually you may get limited to the number of loans that the banks are willing to give each individual.

@Jeremy Taggart I'm still a newbie when it comes to the finer details, but I believe there is a limit on the value of the VA loan you can have.

Try to keep what you are involved in under your control and make sure its complete. 

Don't put a time limit on it.

The reason I'm thinking about rental property is because I'd like to have more control over my retirement money than I do with it locked up with Betterment.

We got the property under contract 4/14 (the day after it was listed), and were set to close 5/14.We were really excited that our mortgage company told me the asking price is under the FHA limit for a triplex. 

Banking on variables that you have no control over is speculative.

Well, if you buy the note then of course you can control the time line, and hopefully at a discount.

This includes the vast majority of residential landlords who own their rental property as sole proprietors (who individually own their properties), limited liability companies (LLCs), and partnerships.