A) How muck risk are you comfortable with to achieve a return?

I have reserved some cash to deep my toe in REI, and if things work out great, I can allocate more cash into this biz to scale up.Since I'm new to this, so I'm gonna have some reasonable goals so they are achievable :-)1) Goals:My long term goal (10 years+) is to have enough passive income from rentals (or anything related to RE) so that we can have financial freedom.Intermedia term goal (in 5 years) would be to have $5k+ monthly income from RE in Short term goal is to have roughly $1k monthly passive income by end of 20172) How can I get to my short term goal?

If you have some goals and a plan of action to achieve them you've already got a basic business plan.

hi @Christopher VecchiarelliCongrats on your early achievements and the foresight to look ahead,1. check out the podcasts 2. set your alerts for the location and subject you are interested in. 3. check out the local laws for the area of your properties before buying.

Once You know what you're shooting to achieve, the rest just becomes practice to get you in the big game.

Other then that don't let fear stop you from achieving your goals and dreams.  

If you decide to rent it out, there are a lot of resources on the site to help you achieve that goal.

The prices are currently being driven up by the feeding frenzy of midnight infomercial buyers so do your research, know what yield, whether cap. rate, cash on cash or other indicator of performance you're trying to achieve. 

After some time of recovering from losses, I'm ready to achieve a dream of building wealth with a sound foundation.

In that case you achieved no discount to market.