Taxes and insurance will be the biggest variables on the expense side. 

@Drago StanimirovicI’m not trying to purchase another property, I’m trying to use the profits from the sale to pay the remaining balance of my loan off for my second investment property.

We make loan at a total cost to borrower of about double what “A or B” risk borrowers would pay for  bank financingLoans are 1st liens, short term (12 - 24 months) at no higher than 65% loan to value.Hope this adds clarity 

Note for future - Ensure your leases have a lease break fee, 1-2 months rent that the tenant needs to pay in order to terminate their lease early.

For investing out of CA the greater Reno area is close by, low taxes, and landlord friendly.  

IM located in PHX,az and would like to know the name of this deal scenario where buyer agrees to pay off completly sellers loan balance, for example , lets say seller owes $50k on a $350k home buyer agrees to pay seller that $50k and is the new owner of said home.

Have you knocked on the door and had someone answer and say I have a lease on this place and are paying for it.

A lot of it is coming down to finding something before it hits the market through your connections in the local market, or being ready to pay top dollar for the property that you know will cash flow and appreciate at what you paid for it.There are still deals to be found on market, but they are becoming harder and harder to find and requiring more creativity.

A few weeks worth of refunds per year because you couldn't take care of something ASAP, will easily pay someone to manage it for you. 

I’d be willing to pay a small fee for your review.