My wife and I purchased our first-ever home in Viera, FL (on the Space Coast) for $430k back in Oct 2022 with 10% down using a 5/1 4.5% ARM.

Out here on the West coast the buyers brokers agreements were not nearly as common as back east and buyers out here are not familiar with them and are balking.. then sellers are balking at paying outside agent because of the laws Etc etc.. 

Katy, Cypress, Spring, Woodlands, even up into Magnolia, Tomball, Conroe - all that is prime - west to north is where I'm at 

And folks from the mid west would say 3 to 4k  and some would say 5k with most folks thinking these days 10k is enough.. and then just as you say work the math backwards at 300 a month which is pretty tough to make if your max leverage and you have your answer of how many houses you have to own and manage.

@Jay Seville can't speak to a 2/2, but even a well-managed (85%+ occupancy) 600sqft 1/1 with view and close proximity to the beach can hit 57K on the Emerald Coast.

Good Evening,I have a few local long-term rentals that I self-manage on the East Coast.

I am quite a bit to your West in Saskatoon / Calgary. 

@Jay Hinrichs yes, you are supposed to pay taxes on gains, though it’s like the wild Wild West.

My first attempts to get a loan ended in some pretty humbling experiences (getting laughed out of a couple of banks due to zero credit history).Fast forward to today, and after building up some credit, a stronger W-2, and a solid professional background, I’m finally back in West Palm Beach, Florida, looking to make my first deal happen.

I have a large 3 bedroom property in west toledo with appliances and they will only approve $616 on rent even though there are 2 bedrooms here going for more.