if so, did you get your initial investment back or make a profit besides the monthly payments?

If they qualify as tenants, you might need to honor tenant rights or negotiate a settlement to vacate.Market Potential: A two-family home and a single-family unit could be a great income-generating property post-rehab or resolution.

I have an idea of an initial investment and returns I would like to hit, but would love to speak with those of actual experience to see if my numbers are realistic.

You're absolutely right—positive cash flow from rentals can vary significantly depending on factors like property costs, financing, and the ever changing market conditions.For real estate the challenge isn't just accumulating properties but creating a framework that builds net worth more strategically and sustainably.Cash Flow can be generated in many ways, my intention was to better understand the investor mindset and their approach, if they wanted to share.Based on your example, if using conservative calculations at $100K/door, you would pay $20M for access to $40K/month. 

I would also ask them about cash for keys since I would initially offer the tenant this. 

You are controlling significant assets with little money and using the revenue they generate to pay for them. 

So all of the gain and depreciation recapture are initially still tax deferred.However, like Joe said, the down side is later when sold  you lose the 1031 option. the client will pay tax on all gain and depreciation recaptured from before the 1031 also. 

Our initial goal has been to buy a property every time the Army relocates me (roughly every two years) and rent it out afterward.

The digging out has priced out much lower than we thought initially, so we’re using the additional money for an overhead sewer (the only flooding we’ve had in the 13 years we’ve lived here has been sewer back up).

By purchasing properties in high-demand urban areas such as Berlin, Munich, Hamburg, or near military installations, American investors can generate reliable monthly rental income.