If you own majority and are able to control hoa which comes with its own headache and not totally passive that can help .  

These are what his numbers are: Value $369,000, Gross Rent $72,749, Total expenses $49,682 Net $23,067.

As someone who has only done out of state investing because the Seattle market didn't work with my goals I would say it is totally achievable and likely in less time than you are imagining.

The total cash returned will be less on a financed property - but in all actuality it is better to finance because you would be able to do far more deals with your $1mm and ultimately you would come out way ahead financing all your properties.  

If you decide to self manage and want help with other functions we can totally help out.We also buy and sell real estate (candor realty), have a repair and maintenance company (CMR Construction) (includes snow plowing, lead abatement and full fledged rehabs) If you need any of those support services please let us know.

I totally agree, I’m currently using a free software and it does what I need it to.

In the example below, it shows my "Vrbo commission" is 5% and their "payment processing fee" is 3%, so they take a total of 8% (of the nightly rate + cleaning fee + pet fee). 

Last two loans I did they did an Mai at no charge and they forgot a floor plan and had to get a one off for that one and no charge.. only thing we pay for is title insurance and escrow fee and property tax's and transfer tax if any.

Even then it is likely due to an underestimation of the value of the underlying collateral or total payoff miscalculation if the loan is in BK. 

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)