Its infrequent but there are the rare instances that the tenant doesn't move in due to a job change or whatever.

Great job!  

You tried getting a roofing job from Bob Prisco aka Bob Stevens, or you tried getting a roofing job from Elliott Taylor?

The current game is flipping which is a job (stop flipping and you stop making money) or more patience than I have.  

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I guarantee Musk cares more about his money, property, kids, and bathroom floor than the hired help, but that doesn't mean he is better suited for the job or that he has the time, skills, and energy to handle it.Maybe you're part of the small percentage that can do a better job.

Generally speaking condo are cheaper to get into, but you have higher costs due to condo fees and if the condo board does a bad job running the place, you will have even more costs. 

Is this possible or am I just dreaming?

I still work a full time W-2 job and have three relatively young children.

If that's the case and you aren't viewing more properties in person than you are making spreadsheets on, you are destined for analysis paralysis.Spreadsheets can only tell you estimations based on numbers given to you online or by a real estate agent whose job is to sell the property.