Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

For example, more downpayment means less interest rate regardless or whatever loan.I am trying to see what sort of action I can take right now so I can plan detailed and measured steps to my goal.

These minor details are the kind that distract people from the path of success. 

Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)

Additionally, I've been spending a lot of time evaluating condo / HOA management solutions and accidentally stumbled on ManageCasa, which offers a free trial and < 3 unit free tier that has allowed me the time to get in, kick the tires, and really appreciate their attention to detail and broad feature set that adapts to each unique industry sector.

Thank you for posting that very detailed experience.

I would recommend getting a free cost/benefit analysis to see if you specifically could benefit from the study.Real Estate Professional Status

Thanks for the details!

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

I have a cash flow analysis spreadsheet that I like to use when looking at deals for my investor clients to make sure the numbers work.