But ultimately I want passive income from rentals and leave my 9-5.So I guess that strategy is called Buy & Hold.

During rehab process the bank sees us with; 2 mortgages, 0 rents, and 1 income (spouse not working) and would be too risky. 2 mortgages will make us at borderline break even cash flow with existing income.

Consider factors such as rental income potential, expenses, vacancy rates, and potential for appreciation.- Negotiate and Close: When you find a property that aligns with your investment goals, work with your agent to negotiate the best possible deal.By following these steps and staying proactive in yoursearch, you'll be well on your way to finding your first investment property inHuntsville, AL.

Here are some numbers I crunched and my reasoning behind them:3BR Condo in Windsor Hills ~$459K~$38K projected STR income.$365K mortgage at 7.5% - $2,550/MoHOA - $460/MoTaxes - $306/MoInsurance - $200/Mo?

Getting into real estate is tough as it is, and coming up with the down payment can be extremely difficult, especially if you don't have the income to support it.

Income was categorized in expenses and expenses in income.

Our goal in investing is long term benefits (we would like to plan for retirement and helping our kids get started as adults), also plan to gain passive income, maybe gain one property every other year or so. 

What equivalent w2 income I need to make to keep $9000 after tax rental income?

If the properties are managed by a third party management company, 90% of the income / expenses should be summarized by the PM Company.You should be able to get a year to date statement providing you a summary. 

If someone does not need the income coming in from rentals because they have other sources of income, they might be more able and willing to wait to get a larger return from appreciation.