The rest is really a mathematical equation. 

(started after scouring the OC for potential rental properties and never finding the cash flow part of the equation...)

If Transactional funding is 2 points in fees then that would equate to $100,000 to $250,000 in transactional funding.  

Many new investors ignore the part of the equation that is debt pay down.  

This will take that ticking timer counting down to tax Armageddon out of the equation entirely.

Looking at investments from the maintenance side of the equation once you own it,  I believe a 3 bedroom, 2 bath one story home on a slab foundation connected to public water and sewer is the perfect rental for buy and holds.  

I lump ceiling fans into this equation and I was planning on removing the outdated ones that are present in my most recent investment in Philadelphia, BUT the units do not have central air and I am consider keeping ceiling fans in there. 

When a seller or listing agent calculates the ROI, they always leave some key expense out of the equation.  

You must calculate into you equation appreciation. 

(Paraphrased)As you focus on replacing your salary and how many "doors" you need to accomplish that, you are ignoring a MUCH more important part of the equation ....