CheersElvis, if you’re looking to scale, I would focus on accessing the equity you can in order to jump to your next investment.

You may not make the same level of income you can in an STR but you're still looking at 2-2.5x market rent vs annual lease. 

Most of my op expenses on rentals run about 36% self-managed,  50% with a PM but I've had $30k outflow months so need a fat EF. 60% works for us but we live pretty modestly and don't have a mortgage. 

Again barriers to entry are steep but finding tenants and getting a nice fat rent check is very possible. 

My goal is to hopefully one day retire with that big fat nest egg, major equity and cashflow coming from all angles.

You can in Michigan.  

Hi Renee,If you income has been below the IRS filing threshold amount for some time, and the $300,000 has fallen to you tax free (like a one time thing in your life) it might be smart to NOT take a big risk with it, and pay cash for the house and live off the rental income (and pay tax on that income if you have to).If you start breaking the $300,000 up as down payments on several places, and take out loans out and things go bad, you could lose the additional homes, and the bank will get the $300,000 you used as down payments leaving you with nothing.Somebody once said pigs get fat hogs get slaughtered, and that's something that someone with history lower income should think about.But if you want to borrow, and can find a lender then go for it.

You can in LA county.

@Nelson MartinezBeing relatively new to REI as well, I would say focus on the following: (1) Maximize your W2 income, (2) Save the majority of it and (3) House hack into your first property with an FHA loan as soon as you can. In

I'm not afraid to part with my money, but would prefer OPM where I can. In