You have to factor in your timeline even more when you are doing 1 job at a time and depending on this income to live off of.

If you pay rent while in Aspen, that housing expense will be factored into your DTI ratio (e.g. total rent paid in 5 months divided by 12 months).You should be prepared for your loan file to go to an underwriting manager for second-level review on account of the occupancy risk associated with your primary home being located so far away from your work.

A qualified professional appraiser will generate a comprehensive analysis considering factors such as sales comparisons, highest and best use, market conditions, and income generated following Uniform Standards of Professional Appraisal Practice guidelines.

I want this to be a vehicle for my wife and I to gain financial freedom and grow a portfolio to support the lifestyle we want when I retire. 

I did not factor the math in as a LTR + STR but just a LTR so it did not impact me financially as it was just gravy.That is not to say yours will, but I notice in the better neighborhoods tenants do not want guests coming in & out.

@Lake BradfordTo decide whether to buy real estate in Atlanta, consider factors such as financial readiness, housing market conditions, long-term goals, renting, and equity building.

No cycle: just circumstances like supply, demand, economy, population, demographics, lifestyle etc.

She can't afford rent, so you get her moved out by the end of the month, then apply her deposit to the unpaid rent, cleaning, and repairs.I may even incentivize her to leave quickly by offering to forgive the unpaid portion of rent if she gets out by the end of the month, but it really depends on a number of factors and I'm not going to ask for details.For future reference, best practice is to have set standards and adhere to them every time.

HUD will only approve market rent and rent the tenant can afford which can be a limiting factor for you.  

Self-managing can be challenging or restricted, so be sure to factor that into your decision.