How to make "enough" money from rentals

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Lets say someone wanted to make a living from rentals alone. Lets say $60K/yr is the target. If you cash flow each property @ $200/month minimum, you could calculate how many properties you would need. However, then you soon get to a number that is too large to manage yourself, so you consider a management company, which adds more costs. Then you need to factor in vacancies, repairs, etc.

If anyone is making a living from rental income, Id like to hear from you. I could see it supplementing a regular income, but it seems it would take an awful lot of units to make the numbers add up. Then there is the paperwork on all those properties. Geesh!