Although mental instability may be a factor in this equation, trying to build mutual respect and understanding is a good place to start.

@Isaac Hayes I would leave the number of loans out of the equation.

I know Jersey has one of the highest in the country but is there a simple equation to figure this?

That equates to the rents of approximately $850 a unit.

Being organized is for sure an important part of this equation.

Which if I understand the equations correctly would give me an 13.7% for a CoC return.

In saying that, I should clarify that I don't actually want to quit my job as I enjoy working and especially my line of work, but that I want to make the amount of money that equates to that feeling of "freedom" where I am getting up for work every day because I WANT to and not because I HAVE to.

As some other people have mentioned, no equity brings alot more risk into the equation, which is bad news for a first time investor.   

Not 100% sure that he handles the tenant side of the equation.

@Lam LeCapital gains tax rates are 0%, 15% or 20%.You should also factor in state tax rates into your equation, especially considering that you live in California which has high state income tax ratesYou should also factor in if you would be subject to the 3.8% Net Investment Income Tax(NIIT)