HOA will eat up a lot of your money. 

If you don't have appreciation capex will wipe out your cash flow. 

Is it doable - yes but you will need to go to a lender who probably uses their own funds vs. an instituational lender as they will not like 2nd position nor the low amount.

Pretty much all lenders in business to lend money will charge a service fee to the investors.. and take it out of the gross monthly payments..

will reach out to the  ProhomerealtyThanks @Phillip Bradrick. saw your message, let connect and take the discussion forward. 

It will teach you so much, has the best financing options, least amount of risk, and will let you know if you want to be in this business or not. 

REI) and it will populate in-person and online events.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

I have a cosigner willing to help, but Im unsure whether they must be in my LLC or can just be a guarantor, has anyone dealt with this before?

Quote from @Josh Deschene: Hello All,This is my first post and I will try to summarize as clearly as possible.