Are you accounting for everything—taxes, property management, maintenance, insurance, reserves—and still hitting your target returns?

In addition cash flow is taxed annually.  

And possibly even more money back if you did some of the work yourselves.So now you have a new home that you're living in that has probably 25% equity in it, you have a cash flowing seller financed property with no maintenance because you've sold it on seller financing and they're going to be taken care of the property because it is their property but yet you still benefit from cash flow because you are the bank.

Will it pay the full PITI plus Capex, management fees, maintenance etc?

Not sure which way to turn.Thanks,David I believe banks prefer a W2 over a 1099 as it is typically more consistent income where you have an annual salary or paid rate of hours that is more consistent.

You can find plenty that look good on a spreadsheet, but the maintenance on an older home along with the pool of tenants that you are renting to will evaporate the "cash flow" very quickly. 

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I personally inspected the properties, managed and participated in the rehab, interviewed and placed tenants under lease, and performed all of the ongoing maintenance and management of the rentals. 

Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.