Buy it right and be an excellent host.

Excellent advice, Evan!

Conventional loan, excellent credit and reserves, nothing owed on the property and the property is seasoned.

It is very important, no matter the investment vehicle, to do thorough due diligence, ask for track records, know the risks, make sure there is a great deal of transparency and excellent communication with any Sponsor. 

When I say "quality" i mean the quality of the neighborhood, and not necessarily the property.For example I am looking at a property that is being short listed for 20k fully renovated (zillow estimate is 35k) but it's in a depressed area with a few rowhouses boarded up around it, but there is an existing tenant there and the rent, cap rate, and cash flow look excellent on paper.

It's also a good idea to have a third party, such as a realtor, visit the property to ensure the work is being done diligently and on time.I have an excellent contact for work in North Texas.

This year, I'll make closer to $175,000 thanks to some opportunities for overtime, but they're not consistent or guaranteed so I don't want to consider that as regular income.I am very fortunate to have an excellent pension that will allow me to retire as early as 39 years old ($58k/yr) with it growing exponentially every year ($400k/yr at age 65 - which I do not intend to work until).

A beautiful excel tool would help a lot (along with #s from a CPA) Where / how can I get my hot hands on something like this?

Hi @William StricklandIn my opinion, the best mortgage calculator is the one you create yourself in excel (or google sheets). 

@Samantha FedorGet in touch with Samantha for excellent PM services in Cincinnati