This means saving, saving, saving, and only buying when it makes clear sense and it means having the self control to sit on the sidelines and just save when the numbers are questionable.As an interesting side note, I did some detailed calculations and I could have achieved a slightly higher net worth by just investing in the S&P500, though I would not currently be enjoying the benefits of depreciation and the resulting lower income taxes that real estate affords.

Oh, and just some quick math if you haven't already done so, your remaining VA qualification through entitlement is calculated by subtracting your original VA loan amount from your first purchase price against $766,550 here in Florida, and that is the maximum purchase price that you can qualify for, with a second VA loan, without having to put extra down payment. 

Let's assume you don't take a loan.Purchase Price: $1,299,999Closing Costs: $25,000Renovate unit: $35,000Build 2 ADUs: $250,000TOTAL: $1,601,000The cashflow calculation looks like this:Gross existing rent: $5,600Gross rent from 4th unit: $2,500Gross rent from ADUs: $3,000TOTAL GROSS RENT: $11,10020% Expense Ratio: -$2,220Property tax: -$1,354TOTAL EXPENSES: -$3,574NET CASHFLOW: $7,526So, about 3/4 of your $2M budget gets you to about 3/4 of your $10,000/month goal.

Investigates rents in the area and calculate if the rents will cover the mortgage when you leave.

The answer will change just a bit on how the income is calculated.  

, and how would you deal with such situation (calculate the risk, etc.)?

Has anyone found a rehab calculator comparable to the old estimator?

And while there are many ways to calculate the profitability of the note I created,  the resultant investment yields significantly more than purchasing an investment in the competitive market environment.A summary of the deal is thus: My partners and I owned a 11,000 square foot retail/service center on a main thoroughfare in North West Houston.  

From my simple calculations, taking into account paying for attorneys, business structure/expenses, etc. not to mention the time of due diligence, and understanding legalities, it seems more lucrative (AND SAFE) to invest in a fund.

View report*This link comes directly from our calculators, based on information input by the member who posted.I am supposed to be purchasing this property as a house hack in a week.