Quote from @Matthew Becker: My goal is always cash flow the first year. 

I really wish I had seen a detailed review of Foundation Property Management (FPM) or TurnkeyInvest here on BiggerPockets before signing on with them several years ago.

It would take 4 years to save another $100k before I could make another purchase based solely on the cashflow.

Find out which filters are best for your furnace, purchase a year's worth, write the installation date on each one so the tenant knows when to swap them, and inspect regularly to verify it's happening.

For many years we did have turnover every year, so that was a good number. 

First year projection was 2-4%.

I;ve done the corporate grind for 25 years - time to do something else ... :)I'm looking to do out of state investing (I feel CA is too over priced/out of my reach at this time). 

I am thirty-nine years old, married going on six years, and my wife and I have a 14-month-old.

Got a 5% rate calculated for 20 years with a balloon payment in 5 years (2026).

This negative position can consume years of cash flow to recover.