Companies are unlikely to consider cities with high crime or cities with high operating costs.You will need multiple properties to replace your current income.

Detailed financial planning analysis can hone in on the actual number with a high degree of accuracy. 

In CA, construction costs are high, but I think outside of the state, you could hopefully get somewhere in the $150-$250/sq ft range for the vertical. 

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

Would having a highly insured property (1,000,000+ liablity) plus not being a negligent or slum landlord be sufficient and not require the use of an LLC? 

In Fayetteville you have relatively inexpensive houses in an area with a high rental population due to Fort Bragg.

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

Quote from @Pradeep Shrestha: I would highly caution against investing in any of Rod Khleif's deals.

Early 2017 investment, assumable, high 3s fixed-rate debt with a 5-7 year expected hold period.

Partner Driven saw the potential to generate a solid return with minimal risk, making it a perfect fit for our investment strategy.