Projecting Costs into the future

[Will Conner]

Hi, 

First time posting but have been on the site and learning for a while now. Just like so many people here I've made a promise to myself to finally get into real estate as a way of exiting my W2 job and provide a long term income producer for my family. I think I have a decent handle on the basics of individual property analysis (says the guy who hasn't pulled the trigger yet) but I have a general question. 

I can say that I am interested in either single family rentals or small multi family (2 or 3 units) 

I am looking to project what I can expect my personal costs will be over the next few years vs. what the cash flow will look like. I have an internal goal to replace my salary within the next 5-7 years and I want to poke holes in that thought and see what is really realistic (or maybe move that target up?!) 

Hopefully that question makes sense? Plenty of articles and sample analysis spreadsheets out there to look at an individual project, but I am looking to see what it looks like if I buy one this year, two next year, refi one to buy another, etc etc.