Unfortunately it's a necessary evil to weed out the residents that are not ideal.

That is $19,200 annual profit so you would be -$3,200 in 1 year with no factoring of breakage and maintenance.

I'm not making a 100% emotional decision, but it is a factor.

I'm not sure what yields Priti is talking about, but I know that after you factor that tax in, it goes way down. 

House hacking or STRs could work too if you find the right deal, but I get why being a landlord in a VHCOL area might not be ideal.

The ideal property would meet the above criteria, AND would have a large yard, or ideally, a detached garage that was a suitable candidate for an ADU construction project (CO now allows ADU construction on most properties), and/or a primary structure that had lots of value-add potential. 

We specifically locate ideal investment locations throughout the US that offer the best returns for cash flow, appreciation & equity.

It's just not the reality.I don't know your wife's income so it's hard to know what you need to replace in order to let her retire but if you think you'll get her retired in the next year or 2....you will have a 99% chance of being let down.Becoming financially free, or not needing a 2 income household comes down to 2 simple factors.

Also factor in if the rents jumped a lot and if that would lead to a vacancy, which will cost you more in the short term. 

That’s a huge advantage.Totally agree on property management being a make-or-break factor.