. :) Biggest suggestion if not already in the 74 comments: Have a good cushion of cash and emergency funds.

I think it was roughly about $4,000 a month net.I could buy a property and furnish it for an Airbnb, but the second part would take away from any “cushion” money so I’m not interested in owning an Airbnb at this time.I would like to to turn my second investment property into an Airbnb eventually though.What are good Phoenix locations for an Airbnb?  

I like your tip on the 30.00 guesstimate to work in a high low cushion depending upon property condition.  

This allows you some cushion to have a couple of appliance repairs or clogged drains and build reserves to paint on tenant turnover.

That way all the rent comes through the LLC and we still have that liability cushion between us and the tenant. 

I don’t know if I should try to secure a HELOC as soon as possible or wait until I’ve been able to save up more of a cushion in cash.

Instead, maybe you in fact like what you do at work, but it’s not giving you enough of a money cushion to pursue your hobbies, or take care of relatives.

As long as you're still getting good deals with built-in equity, that mitigates the risk because even if the market goes down, you still have a cushion.

Having more cushion will be key.As far as the property, it is very close to the beach in Washington State.

How much income will it generate, and if you're living there will that be enough to cover debt service and still leave you with a cushion?