You also back into it by taking the known ROI you require and multiply that by the spend, this will tell you how much you need in a rent bump to justify it.Me personally, I use between 20-25% ROI as my threshold.Another thought to this is if you can do this for 20 units and do secure the $100 rent bump then you just made the property worth 400k more assuming a 6 CAP or 300k if using an 8 CAP. this will help when time to sell or do a cash-out refi or supplemental loan.    

Looking for cash flowing buy and hold real estate that will supplement retirement income.

Also, to supplement what @Brent Crosby said, it's not timing the market, it's time in the market that matters.

We hope to learn how to invest in real estate in a largely passive way in order to generate cashflow to supplement our regular (or rather, "irregular") income.

@Gerardo EscutiaI would tell them to get a window AC unit to supplement if they need it lower.

Decided to get into rental real estate to supplement my advertising sales job.   

I am wanting to get into real estate to supplement my w2 income. 

I am currently in the engineering side of the automotive manufacturing world, but my goal is to pursue real estate investing as a supplemental income and potentially future career.

I couldn't have done this without the bigger pockets community, and supplemental materials provided to me by this site and its members.

So you're 3 years deep, you are now making more money than you did at this current date(9/25/2019), you've got supplemental cashflow coming in, your housing is paid for.