First of all you don't have as much control of your expenses, and HOA's love to under-collect annually and then sock you with large one-time special assessments to do repairs.  

I use Cozy.co for both tenant screening (application, credit and background) and to collect rents...

. $1mm/$120K= 8.33 GRMThis means that at 100% Occupancy it would take you 8.3 Years to collect $1MM worth of income or another way to look at is it would take 8.3 Years for the property to pay off itself! 

I don't want to get a job that gets me out of the game, I started playing around with marketing and I'm doing lead gen, data scrape, and cold calling for investors and small businesses.

But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).

Also, i would budget for only collecting about 75%-80% of the total water/sewer bill because like rent, tenants don't always pay their water as well.  

Just saying, collect your check and forget the headache.    

It can take 7-12 months to collect 6 months of rent.The second most helpful thing is that we buy most of our furniture and appliances from estate auctions.The third most helpful thing is Youtube. 

It offers everything (rent collection, maintenance, communication) and seems to have a better mobile app than other services, but I don't know anyone with experience using it.

He had a big whiteboard in the basement with all types of goals an numbers an I use to just ask why an how he was going to collect this money an see these houses.