. :)Hocking Hills is a wonderful market but hardly anything for sale in $500k range, especially if your certain you want to be mortgage free.

@Alan Lacey so if someone had no job they would still be approved for any cashflowing property that brought their DTI up to sufficient ratios? 

It is a 5br house in southwest side of portage park for $350,000 and each bedroom will rent $800-900 range from comps we found.

Anything could go wrong with a house in that price range.

Houses and property are in the $600,000 to $2,000,000 range.  

Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.

It is possible to quit your day job, but you need a plan and sufficient income to support the decision.

I work full-time in the Bay Area and earn a strong income (Range is $180k-$240k based on how much OT I work).

Would you mind elaborating on the 125-150 range areas?

I would expect the reperforming loan market to stay around a 9-12% return to investors and NPL's ticking from high teens back into the 20%+ range.3.