Having been in the lending space for a while now,  Interest income is not passive - its considered/taxed as ordinary income- just like interest you receive from your bank and savings account.Regarding profit and expenses from a flip, "that depends" on many factors but again if its short term capital gains, its not tax friendly.As always consult with your tax advisor / CPA. 

And, a friend and I host two BP meetups here in Asheville, one on the evening of the third Wednesday and one on the morning of the fourth Wednesday.

Good morning, I am currently using Turbotenant for tenant screening/rent collection and reminders, and lease creation.

There are seasoning periods which means you have to wait if you want more cash out if the property because of property improvements, time passed or a combination of the two factors.

She took over my kitchen and started cooking early in the morning and into the afternoon. 

The numbers especially don't work when I go the equity route and factor that into the cashflow.

There are more factors to consider here but from a surface level, it seems your $ will go further in another market or perhaps locally with a different property type (i.e. small multifamily).Lastly, I like @Andrew Jennings Freerks' point regarding claiming hardship or another workaround for keeping your unit as a rental.

Interest rate are a factor and your debt of 55K and any other debt such as Cars, student loans....  

Stronger markets I might use a 3% rent/year escalator factor...

The calculations, to me, seem to be working and align perfectly with the theory, but I’ll check again in the morning.