With rental increases I could prob pay off my mortgage in 5/6 years which would net me 4K.

Property values also has increased due to the lack of inventory.

Insurance is now a big factor in the expenses of investment properties, even here in Reno, NV there are areas that have had large increases for single and multifamily properties.

•This additional income can help offset costs and increase your total reported income for future pre-approvals.5.

The average increased from $326,908 in 2023 to $352,257 in 2024.

Also due to price increases you can probably cut a better deal on an existing home and probably get better quality too.Normally you'll probably need a couple of years of income to get a loan. 

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

That will most probably be offset by an increase in new mortgage costs and increased rates. 

In larger multifamily investing it's about finding opportunities to increase revenue and/or decrease expenses to drive value.

If your goal is financial independence, then there are more requirements.Your rental income must increase faster than inflation.