I'm thinking long term rentals will be a good retirement plan.

I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.

For example, I stay 99% occupied with my MTRs - the only vacancies are planned vacancies when I need a couple of days for a turnover.

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

Sounds like a great plan. 

Do you meet with us routinely to be proactive and do planning?

We plan on living in the house and doing most of the fixes and renovations ourselves.

It is our goal to provide all the tools, resources, education & coaching any individual needs to learn how to build a sustainable investment portfolio to achieve financial independence & generational wealth through real estate investing.It should be noted, that while the Academy is not a requirement to invest with RTR, the individuals that do join the Academy are much more successful long term since they have spent time to clearly develop their own individual investment strategy & plan!

On top of that, depending on the severity of the structural issues, you will also likely run into problems getting insurance on the property or wind up needing to purchase very expensive insurance. 

Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.