Seeing a lot of borrowers have success across the country, especially with the BRRRR method and the AirbnBRRRR methods! 

You are correct, local banks would go in and sit with them and go through rates and financing and understanding the payment.

Here are the numbers:$30k - avg monthly income3 options for rent vs buying$12.5k - avg monthly payment (20% down) on $2mil home$6.25k - avg monthly rent on $2mil home$6.25k - avg monthly payment (71.5% down) on $2mil home3 options for return on capital:7% - avg yearly return on 71.5% down payment (assuming 5% avg yearly appreciation in SD)10% - avg yearly return on from S&P 500>10% - avg yearly return on investment property (just an assumption, but I think you are all here because you beat the stock market)First, the $12.5k monthly is very intimidating and beyond what I should be spending on shelter (a no-go for me)

My main account has all the rents deposited and all expenses deducted such as mortgages, some utilities and an electronic payment app connected to the account to pay contractors.

On top of that you can find some great deals on TLC properties that need a little work but offer a strong ARV to expedite your initial cash back out with room for the next REI down payment.  

You will need to put some kind of down payment upfront.

My net rental income was $300 to $500 a month, not enough to cover the mortgage payment (PITI) so I'm negative on what was supposed to cash flow on paper.

I see posts on CA insurance that appear to be ignorant to both the past method used to set insurance prices as well as the approach the current commissioner is advocating.The current policy had insurers set rates based on past losses.  

Yes, you can deduct related expenses including gas, loan interest, insurance, etc. using the actual vehicle expenses method to deduct auto expenses for your rental or other businesses. 

Without rent control i either raise their rent far above market rents so they give me notice (my preferred method) or i simply do not renew their lease.