That said having the right tenant goes a long way.

i wish i had better news for you but it's probably not feasible in the short term to replace your W2 income with rental income. 

You won't get calls at 11:30pm on a Saturday reporting heat is out when the temperatures are -17 degrees.Increased Long-Term Property Value: "Nobody will care about my property better than me!"

Then there's paint....for a long time, it was shades of brown/tan/beige, then went to gray (around 2015 as I recall, then back to the brown shades.I like the herringbone, maybe we will stop seeing Subway tile everywhere for a while...?

Hey @Tori Rhodes - As a builder myself here in Chicago that is a question I hear often.Before looking into your loan options, I'd look long and hard at the cost of land and construction in your Grand Rapids area. 

Why do you think purchase contracts are so long and have such small print?

Why do you think purchase contracts are so long and have such small print?

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

If so, how long? 

Long time reader 1st time poster.