very appreciative for you sharing this info. I bought the house I am living in now mainly to turn it into a rental when the time is right. I was young, the market was crash and I just got my first real bonus so I figured I should grab it now when most of my friends are still renting and a few years down the road I will have equity and can start renting it or pull the equity to start financing a rental.
I first got the notion when I got hooked on the Rich Dad series of books and wanted to start increasing my cashflow, which is why i never thought about flipping, always wanted rentals for the cash flow and let the renters pay down the mortage and build up the equity to eventually sell all consolodate and move into bigger stakes with apartments/commericial etc and repeat the cycle. Just figure if I do not start now either educating myself and making action steps it will stay on the back burner.