I am a teacher so I'm off work for the summer, and I'm focusing 100 percent on growing our REI business.

I got two off-market houses under contract last week -- a fix and hold, and a potentially lucrative flip. Great news, but I was on the road, on the phone, or on the computer 12 hours a day working on this and expect this week to be more of the same now that we are under the gun to arrange financing, rehab, etc.

This week, we are also closing on the sale of one house and prepping another house to rent -- our first to rent/manage ourselves, so I am also setting up online applications, figuring out our renter criteria, customizing a lease, etc. I am so, so busy.

I have no idea how I am going to do this when I go back to work in the fall, but to cover our monthly costs, I need to have a reliable income. We do have savings, but obviously don't want to rely on that to cover ongoing costs. I would feel better if we had a LOT more in savings, but we don't -- yet. That's why I got into REI on the side, because I wanted more future financial stability.

Our cashflow from two rentals will be about $500/month. We hope to add more rentals as we can find good ones that won't cost much after rehab/refinance.

The flip, which is a huge project, will net at least $20K (worst-case scenario) up to a lot more, but the rehab will take 10 weeks, plus time on the market in the worst time to try to sell a house, and 30+ days to close. The flip house is 3,100 sf (plus barn) on 2 acres, in a thriving small town with amazing schools, easy commute to Fort Worth, purchase price $55K, rehab price $50K (per contractor). The ARV is probably over $200K, but I am using $150K as my ARV just to be safe. The best comp I can find is a nearby house that just sold at $250K, but the house is half the size of ours, with almost twice as much land. Comps are weird out in the country, but I feel very comfortable with the numbers.

My husband has a good job in the mortgage industry and no interest in leaving it, though he 100 percent supports me and helps in every way he can. We are definitely partners in this.

Although I truly love teaching, I have had a really emotionally and physically draining couple of years, and would not mind leaving. I make $50K per year as a teacher, with no hope to ever make much more than that after adjusting for inflation. I take home about $3K/month after paying for taxes and health insurance. The health benefits are pretty good, but I could continue those for 18 months via COBRA for $900/month (GAHHHH). Leaving teaching would also mean losing a guaranteed pension of 60 percent of my income when I turn 55. 

I also have two little kids (5 and 2) and would love to have more flexibility when it comes to them -- volunteering in their classrooms, taking them to the doctor, staying home with them when they're sick.

And here's a weird little tidbit: The doctor who treats me for anxiety thinks leaving teaching and becoming a full-time REI would be great for me and my mental health.

I guess it seems like a no-brainer, but I am really worried about providing for my family if this REI doesn't work out like I hope it will. What if the market tanks when I'm halfway through my flip? What if I pick terrible tenants that put us through an expensive legal battle? I do not want my weird little hobby to financially ruin my family.

I'm also worried about qualifying for financing without a job, but my husband qualifies on his own and has no problem supporting my REI.

I guess teaching for another year or two is an option, but it doesn't feel like one. I am afraid of my attention being so divided between the classroom and dealing with financing, tenants, contractors, etc., that I would be a crappy teacher, the absolute last thing I want.

What do you guys think? Those of you who are still working full-time, are you satisfied with the energy you can put toward your REI? Those of you doing REI full-time, do you make enough money? Are you happy with your decision?