Quote from @Collin Hays: From a macro standpoint, cash flow is difficult when servicing debt, at least in the early years. 

Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best. 

Trying to cut my losses as the borrower got all her unsecured debts discharged through Chapter 7.

. - The money partner doesn’t need to worry about the financing or keeping the debt in their name which may reduce risk for the money partner.Long-term tenant to reduce turnover.

In general, multifamily properties are a popular choice for investors because they offer the potential for cash flow, scalability, and the ability to amortize debt across multiple units.

My husband was able to consolidate and re-finance the debt after we executed the deal but this was only possible because we bought a VERY modest property of 70k as a learning tool to really see what buying a home in CR would be like. 

From all of that data, it's abundantly clear to me that any rental that has debt doesn't really cash flow.

The technicals (migration rates, job growth, tax situation, debt cost, etc) to work as well.

I’ve often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you’re purchasing another property.

I'm at the beginning of my investment career, fresh out of college and pretty heavy in debt at 7% interest.