If it's in a private neighborhood then maintenance can be lower, but the problem is few of those properties do enough gross revenue to make them management targets.

Nothing screams success like lower revenue and zero tourists.The Grand Prix brings in millions in revenue.

Also wanted $600k in revenue and we generated closer to $700k. 

It doesn’t matter if I have positive cash flow from my investments (or not), as long as the revenue - expenses - depreciation is negative, it’s a tax saver.

. $1.1M in gross annual revenue).

Am I right to read this is a $240k property that will generate $8,000 in monthly revenue?

You'd put all the revenue from the properties first then you'd put all the expenses associated directly with the properties after that CoGS(cost of goods sold).

It's so simple, anyone can pull it off, and many of my clients are first time investors employing the exact same strategy.I think you already have it pretty much figured out, but I might suggest incorporating some kind of creative housing in the mix to increase revenue, like STR/MTR or renting by the bedroom.

Orange County offers a plethora of chances for house hacking, including multi-unit houses and rental revenue potential.If you can put down $100,000, investing out of state may be a good alternative.

There are some expenses (mostly noncash items) that can be added back to your income - depreciation is the most common/well-known.If you have strong revenue and are reporting a lot of expenses to reduce your taxable income, a bank statement loan may be a good option for you.