Eliminate debt, establish a budget, and save.

The sentiment feels a lot like 2008, home prices are unaffordable, Price to earning ratio don't make sense, rents are high (which is a goo thing only of the homes weren't so expensive), I feel like it's a ticking time bomb with the debt crisis.

I make around $110k+ per year, live off around $75K, have a mortgage ($1900/mo for rent, escrow, tax), around $40K in equity, and no other debt. 

for me, the ones that cashflow the most are the ones that I bought with 3% long term debt, they were new (low maintenance) and they are in high appreciating areas(just a bonus but does not impact cashflow).

Long term $ can range from 6's-10% range depending on all types of factors - LTV, location, unit count, debt coverage, borrower strength, full doc or lite doc programs, etc..

Eliminate debt, establish a budget, and save.

Financing your second property can be tricky since lenders may only count 75% of rental income toward your debt-to-income ratio, so get pre-approved early.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Our key amenity highlights include an easy to use gas fire pit and Seattle Mariners themed corn hole.

You'll also need to avoid environmentally restricted spots, including wetlands, protected habitats, and prime farmland.