Never sure how real these posts are, but I'll take the bait and answer. What does $300k liquid mean? You have the cash or you have equity that will be converted to a HELOC, a retirement account that you will pull money out of and be subject to 10% penalties plus your tax rate? Not all $300k liquid is created equal.
As for your goal of replacing your W2, it's going to take longer than you expect and be harder than you hoped. Step 1 is getting your expenses to bare bones, next to nothing cost of living beyond the basics. Step 2 is developing a real subject matter expertise to get outsized returns in real estate.
I'm a fan of Wes Moss's work. If you want to retire, you need a paid off house, $500k+ in liquid assets (usually a retirement account or after tax brokerage), and more than 1 source of income (RE, retirement account, social security for those of qualifying age, part time gig, etc.).
My path was short and mid term rentals alongside a successful business that I recently sold AND swapping houses (from Houston to small town Maine) to pocket the difference in price. The rental income is nice, but the pile of cash in an after tax brokerage account and our monthly expenses being around $3500 (post move) is why I am able to leave the day job, not real estate. RE income is about $35k in a normal year, which is nice, but I'm one busted furnace was from that number essentially being cut in half. I also have a very part time contract gig that pays $8-10k per year as a supplement.
I hope that was helpful. I'm happy to connect and talk in more detail if you think that it would be productive. I have nothing to sell, am not an expert, but have made good and bad investments, gone slowly, and learned a thing or two along the way.
that's just PITI though... what about everything else?
I would grant that self managing can be a huge advantage... but OOS investors can't self manage. so your example doesn't cash flow. $4K rent minus $400 for management = $3600. Repairs, vacancy, capex any shared utilities, groundskeeping, PITI, etc. = $0 cash flow.
and again. I'm not saying it's not a great deal. It's probably a great deal! It's just not cash flowing unless you self manage.
Thanks for telling me about my market! I have a rental 3 blocks away, but you obviously know so much more than me! Can I pay you for legal advice? Or a consulting fee?
The point I was making is that new investors still, despite everything on BP, think rent minus PITI = profits. It doesn't.
You posted an example with rent $4000, PITI $3200. That's not $800 a month in profit. If you want to post all of the expenses, go for it. If you want to move on, that's fine too.