However, what if you prefer simplicity, limited risk, and are living off of the income? 

My biggest advice for people would be as follows.Know why your in the real estate game, and why a specific niche.

(I personally prefer $2M/year and I think that cash flow is plenty enough to cover any mortgage risk along the way, but there's no doubt some people would feel more comfortable sticking to the $24,000/year and that's totally cool too!)

I prefer public comments here before you send a direct message, though. 

I'd prefer a small business.

Not to mention our building standards remain for most part that of colonial times, why, who knows, we just don't like to embrace brick block and cement for some reason and prefer sticks still. 

Typically, the banks prefer to refinance one year after the initial purchase.

Some people need 2% above the borrowing cost (8% cost of hELOC you gotta then make 10% + etc) and others will want to double their cost of capital or 200% so it depends.Everyone's going to give you their anecdotal experience or what their preferences are so its good to hear it all and determine your own.

The ones that truly understand it often don't want to be bothered, so, slightly back to one, are assuming that any outreach is bad news, otherwise, let it go.Everyone's preferences are different, but I found sending out a semi-generic email with a link to schedule time with me was the best way to reach the most people, and people that wanted to talk without making them assume something bad was happening.  

Experienced managers can help evaluate potential investments by providing insights on rental demand, market rents, tenant preferences, and location-specific factors that affect leasing success.For example, rental properties need to be close to conveniences like major roads, shopping, and schools.