If, while running your numbers, the returns are within range to your criteria, do not lower the expenses to "make it work", but just know that some months may be higher, some may be lower, and if you have the cash reserves to support a higher bill or unexpected repair, then the underwriting at least helps you mentally prepare ahead of time.Any calculator, based on the inputs from any noobie or seasoned professional, will NEVER be the same as your actual numbers.

The ENTIRE mentality here is wrong.Listen carefully and hoe you and everyone else here understands this.Consider this.I have 15 kids, 4 dogs, 300 chickens, 3 wifes (that don't know about eachother), an uber eats job, and 35 dollars to my name.

That's a stock market day trader mentality.  

Thank you for exemplifying the greed-driven mentality that pervades our society, where profiting off the thirst for knowledge takes precedence over genuine goodwill.

That tenant started out great and had a mental collapse.

So I am not the smartest person and some of the helpful replies in previous posts was above my mental capacity.My situationI own a home (homesteaded in FL) and have 2 roommates which help pay the bills.numbers - mortgage left 155k, home value 330k, current interest rate 4.125% on conventional with 24 yrs left on a 30 yrmonthly payment with HOA $1600 pcmI am wanting to either1) turn this primary residence into an LLC and purchase another property to move into and start the process again with the aim being to rent my current house out on an annual 12 month lease for at least 2 - 3 years as I was told that as long as I lived in it 2 out of 5 years I can then sell without paying capital gains (though this confused me and anyone wanting to teach this to me like im 5 years old would be greatly appreciated).

First, instead of fighting over deals like there's a limited supply, why don't we all create our own "abundance mentalities" - because no one on this thread has the infrastructure to handle EVERY possible deal:)Secondly, I find it odd that agents are fighting against "off market" sales, but could care less that at least two-thirds of rental transactions are technically "off market" or "off-MLS" (no agents involved).Yet, every agent licensing course covers the handling of rental leases.Guessing that agents only get wound about this topic if a certain number of zero's are involved?

Figure out other ways to de-stress your life so you can keep your W2 for as long as possible - outsourcing disliked tasks, working on mental/physical health, shorter commute, etc...Retirement seems like an emotional state of relatively low stress and contentment.  

With this mentality no deal is worth it.

Hello Mark, Jumping into real estate can seem scary right at the forefront; however, it can also be one of the most rewarding experiences not only financially but also emotionally and mentally.