Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best. 

Sure, I wo't have the same financing options, but I might be able to work with hard lenders, or perhaps eventually set up a LLC and maybe that will open up some other financing avenues. 

I found a free monthly timesheet template that eventually worked great for me.

Eventually I realize that when I think about living on post-expense rental income, I’m treating the income as the “withdrawal rate”, in Boglehead parlance.

While I believe I operated with many of these strategies and tactics EVENTUALLY, I spent a long time “spinning my wheels” early on when trying to negotiate before establishing a rapport.  

Eventually it was sold at a loss.Anyway.

I will eventually look to distance myself from this part of the business and hire a PM.

To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights.

It worked fine for awhile but I knew something like this would happen eventually.

That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day.