Alternatively, if you’re using QuickBooks Online with a plan that includes the "Payments" feature, you can collect rent directly through QuickBooks while staying on top of your bookkeeping

Quote from @Nithin Kumar: New to Phoenix and hearing a lot of places for rental investments but trying to figure out from the pro's around to find what are the areas that can break-even on a monthly basis and the areas that can show appreciation in the nearer term. planning to put down payment of 30% (~100k) Hi Nithin, I live in North Phoenix myself and would recommend anything around the Paradise Valley Mall area.

There is 3-5% down payment options you can use.

I wouldn't worry about the $1000 payment.

Also DSCR typically has pre payment penalty while hard money does not. 

I've never heard of a lender that wouldn't count Section 8 payments as income.

The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage. 

@Robert StephensonIf you have enough equity in your primary or rental you can get a HELOC or HELOAN and use the proceeds as a down payment to buy another rental.

The longer term loans would have lowered your monthly payments and decreased the costs.As for rent, each year you need to look at rents in the area to decide how much you will be increasing the rent by. 

The amount of cash flow on a home will of course be contingent on the down payment.