Actual T12 goes thus: income $54,930, operating expenses $22,305 and NOI $32,625 as listed.

After a solid 6 month intensive full rehab and pulling all the cash invested out I like to tell my wife 'Hey look at all the free passive income we have!'

However, financial freedom isn't just about replacing your current income.

Where most people make mistakes is they do not account for servicing costs etc. as part of their cash flows.

Lenders have expanded their guidelines to allow for up to 85% financing assuming healthy credit and income is producing above what the debt obligation would be for the home. 

A DSCR is a debt service coverage ratio loan (against the new property) and effectively uses a proportion of the current or proposed rental income to qualify.

So, I started buying between 2009-2012, which was a few years earlier than I wanted (I was hoping my wife would be back to work after raising the kids through kinder and we'd have two incomes). 

Value is a function of the income the property produces.  

Bay Minette is very rural and lower income.

In theory, solar power is cheaper that what the local utility charges so you could generate an (small) income off of your solar investment.