Time is my "reason" and wanting out of conventional 9-5 J O B.I would take about $200,000 to buy around sub$30 rentals at 1.5% for cash flow to keep my household afloat while I become a full time investor.

Monthly pre-tax income for household 5.)

Have another account with 6 months of expenses, which includes all expenses, not just emergency--that trip to Russia, Sweden, and Germany, another for Hawaii, funds to fly out the grand kids a few times a year, household expenses, all the rental expenses, maybe a new car, whatever you typically would spend on 6 to 12 months. 

And state whatever your requirements are for income..... for example "your household take-home pay must be two and a half times the monthly rent".

You already know it, a peaceful household.

@Amanda ReynoldsI would start by taking a very objective look at the way you are running the personal and household budget.

The investor purchased the asset with the intention of renovating the units and adding value by increasing rents.South Shore remains to be one of the most undervalued neighborhoods in the City of Chicago relative to employment, average house hold income, occupancy levels and rents.

@Storm Silva  The main difference is what I mentioned above... if a (potential) seller with less than say 20% equity needs to get OUT of a 'distressed' situation (or even simply needs to relocate,etc.) then that is ONLY doable (for approx. 7- 10 million households nationwide, presently?)

Aloha,If you are planning on not allowing pets, then you should also establish a clear and separate "Assistance Animal Policy", and have a printed copy handy at all times.Your Policy can include a simple form that asks the TWO questions you are allowed to ask - Does a household member have a qualifying disability?

Note there are no social security/medicare taxes due on household employees, and they are ALSO entitled to 17.5k in individual contribution PLUS the company benefit.- 401ks are defined contribution plans.