Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Additionally, we have developed templates for tracking key metrics that we require our PMs to fill out weekly. 

You aren't required to offer a loan mod prior to foreclosure.

Charlotte, NC, and its surrounding areas continue to offer exciting opportunities for real estate investors.

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment. 

In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

What do you mean you are paying $400 additional dollars more than what you are paying now?