(horrendously low appraisals don't count!) 

So I would count on $3,200 coming in minus $500 in utilities and another $100 or $200 in repairs.

Head to the "for rent" tab, mark your general criteria (bed/bath count), and check days on market for those rental listings.

Also, knowledge of what hours count toward material participation....This post does not create a CPA-client relationship.

That sounds terrible, that I have thousands in PALs that keep getting pushed forward (unless I sell off a property) but if I sell some stocks off in 10 years, that counts as capital gain. 

Taking depreciation will not count against your income calculation.

A blueprint is good, but when you say "Goal is to try for 8-10 Properties and try to leave my W-2 in 3-5 years" that often makes people rush to achieve the door count and in doing so, bad decisions are made.If you think more holistically about your journey, you will stress less.

Regardless of the unit count the property condition is critical. 

This profit doesn’t count for vacancies or cap ex, but you get the idea that there still are decent cash flowing properties to buy out there with 7% interest rates.

Exclusions.Certain work, such as time spent as an investor reviewing financial statements or participating in management decisions without active involvement, may not count towards the 750-hour requirement.As always, talk to your CPA to make sure that you meet the criteria above.If you do, there are many helpful benefits to you.