@Maxwell Robertson You're most certainly on the correct path.

When I was younger I sold a condo with a lease option, but didn’t do it correctly; I had to evict and foreclose.  

Hi Daniel,You’re absolutely correct.

Drew and Simon are correct.

When we say doing the due diligence while choosing the REA, for new investor, it would be believing them whatever they say or promise even if you ask correct questions. 

@Toby FellowsYou are correct, you need to ‘hang’ your license under a broker in order to practice real estate, and most brokerages require you to become a member of the National Association of Realtors as well.While you are preparing and taking your courses, contact several brokers and interview them to find out who might be a good fit.

Things like this are why it's important to work with a professional who is well versed in real estate taxation because the "common/simple" strategies taught frequently like BRRR or house hacking actually get fairly complicated when it comes to handling it correctly. 

@Paul BushEr all heat lots of things - recommend doing some researching to find the case and get an understanding as that does not seem correct as you could call people to buy their underwear….

@Selali Kalevor 100% correct - except outsourcing PM work for only $25/hour. 

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)