I would love to have the first rental home paid off prior to building.I have a goal of owning enough real estate properties by retirement age to give us a passive income of inflation adjusted $12k/mo.

I just read this morning that they are now more worried about inflation and are considering raising again.

Remember, we only talking about cash...not using any alternative adjustments like depreciation, inflation, etc...Cash out        = Cash on Cash ReturnCash in For example #1:If I paid all cash for purchase and rehab of $100,000 for a property.  

Since this thread is still alive, I'll add another 29 cents (adjusted for inflation).You are starting with a cold list, so called in the direct response industry because the names have no recent history of responding to any particular offer.Here's a shocker: most probates are NOT distressed sales. 

The rent increase is attached to inflation under consideration of fixed costs like insurance and property tax increases.

An inflation bump would be nice...

I like the trend of higher density growth for property value inflation.  

We have artificially inflated prices, in most of the areas with cash sales to out-of-state folks, or local cash buyers.

Rapid inflation is one!  

Although the economy is strong and rents are rising, property values are inflated and there is a lot of buyer competition = low cap rates.