Therefore it is physically impossible for a $600 or $700 SFR property to cashflow over the long term in most cases after you account for taxes, vacancy, maint. etc. it may cashflow well for 1 yr, 5 yrs, 10 yrs, maybe even 20.

Might make you rich ;)I majored in Econ w/ a minor in Business, and after pulling the trigger on my first property in 2012, built a $mil portfolio by 30 yrs old in less than 2 years basically from NOTHING.

I can get a bank note for 80% I'll be in 10%  and he'll carry the balance with a ballon note for most likely 2 yrs.

My short term goal is $5000 a month residual income in 5 yrs.

My agent told me that in his 25 yrs of career he has had to claim for a full loss only once.

There is a house for sale that is a 3 bedroom, 2 bath, 1300ish sq ft single family, listed for $329,000 that has been renting for the past 4 yrs at $1400/month, but could "probably" be rented for $1600 a month.

I have some tenants (3+yrs or so) that may have a late.

I'm, however, always looking for prospect so when opportunity arise financially, I usually already found my next project.Since we bought every 2-3 yrs, I bought different type just for more education.Condo...new construction....commercial retail store....single familyAfter 12 years....ppl are asking me to invest for them.

I personally like Elliot's idea; my thought is that waiting 2 yrs isn't necessary.

With an average tenancy of 2 yrs, that puts it at around 14.2%.