As @Tom Shallcross said about a payment plan or schedule of some sort.

@Ryan Daniel  I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection in relation to real estate investments.

I would both buy a property to get your feet wet and at the same time make a plan to scale.  

You have the mortgage, taxes, insurance, maintenance, capital expenditures (roof, flooring, etc.), and also need to consider the cost of vacancies or bad tenants.I also recommend you charge market rate, for yourself and the tenant.

If it's in a high tax /flood area taxes and insurance could easily be 5-6k or half that then with title insurance points and closing it could make senseWhat is the breakdown ?

You can try and fight it but does not mean you will be successfulI would also be curious to see what your property insurance looks likeFor me this is just another example that home prices are gonna eventually have to soften as between taxes, insurance and Interest rates home affordability is very challenging

And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

With Amanda Frecks as a partner and a clear plan for strategic improvements, it was the perfect fit for a quick flip and profit.

The data plans are reasonable ($50/month) and the service seems like it would be more reliable through storms and outages. 

I would say sec8 is the pinnacle of requiring great management, systems, planning and methodology.