Is this an effective way to build wealth in Real Estate?

Thanks for the clarification @Cornelius Charlesthat makes sense..I guess I'm trying to figure out how someone like me, not established etc could market effectively...before I ever thought about getting into REI I'd gotten direct mailings and seen signs around town and I always wondered who would call those numbers because they seemed shady to me...I wonder what you or @Jim Kelleror anybody else have done that was successful...I've heard of some people literally knocking on doors but somehow I can't imagine doing that...am I going to have to change my perspective??

Then you have damage to the unit etc. that they want you to eat the cost on.No legal advice given.   

I am able to pay the mortgage with the rent and it's a wonderful blessing to be effectively mortgage free at 24 :)

Once we realized that the grass is not greener on the other side, the damage has been done.

@Cody StoneIf you borrow from the Roth solo 401k bucket, you can minimize the solo 401k loan side-effect. 

He can also give you a realistic idea of how much.You can also take out insurance for fire damage, loss of rents etc on a temporary basis to again mitigate risk.

So here's the combined numbers for both props on a monthly basis.Purchase Price For both Properties: $120,000Gross Income (both properties): $5,965Gross Effective Income (10% Vacancy rate): $5,368.50 Net Operating Expenses: $2741.31- Cable - $50 (it's gerry rigged)- Water - $435- Electricity - $450 (3 months during the summer its $800 a month)- Dumpster Fee - $185- Fire Insurance - $41- Property Mngmt - 7% (I will use professional management)- Taxes: $363.34- Maintenance: $800Net Operating Income: $2,627.19Capital Improvements: $25,000 (roof, foundation, paint, flooring)The owner combines all expenses for both properties because they are side by side.

This required me to go fha but luckily my broker found a place still offering 3.25 fha so even though im stuck with pmi my effective rate is around 4

This is why in contracts it will say something like ( The brokerage, broker, agent IS NOT an expert relative to ( all these listed matters etc. ) and that if the buyer has any questions they should seek the professional out to help them research a situation to make a decision ( something to that effect .)3.