Current balance of loan is around $380k.

Hi @Andy S. 3x monthly rent for income has worked well. 

To answer your question @John Thedford, PPR's current fund pays 12%.   

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Kudos to you for doing something to create a secondary income stream. there are 5 income streams in RE rentals, possibly six if you do things a certain way.The reality here is your model (buy box) is suffering from too high an entry and too high a cost of capital.

Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.

I was interested in something like owning a rental property as a way to generate some additional income. 

I also agree that there have been so many syndicators who's deals have dried up and they have resorted to teaching/mastermind as a source of income. 

The guy is meeting the rental criteria income wise.

Current goal is focused on growing a portfolio and reinvesting cash flows.