Eric,Without going into too much detail on each line item, at first I use my back of the napkin method with a 40-50% expense ratio.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $140,000

Cash invested: $24,000

Sale price: $220,000

I knew from the start that I was going to buy this propert...

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

Have a client that does sober living homes here in B/CS.

Hey Dan, renting to a sober living operator can be a great idea.

NW Chicago is very expensive as a rental.

You really should never leverage the home you live in.

And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc. 

Since I live in an expensive market, I'll need to do remote investments in the near-term, so right now focused on turn-key properties. 

Living trust does nothing for anonymity.