If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.

So, if you don't know how to build financial models, there are some available that are pretty good online (adventures in CRE is a great resource).  

It's easy to get bogged down by too much software in today's world.

@Derick JenningsRecommend 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?

I think real estate is very forgiving (1) over the LONG term and (2) if you're well capitalized / in a strong financial position. 

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

I just closed today on the sale of the second house and have ended the nightmare!