Additionally, keep an eye on the local economy and any upcoming developments or infrastructure projects that could impact property values and rental demand.

Also knew the right people to help with the project.

.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

@Bruce WoodruffIt is basically fully renovated.

It needs to be project by project and they don't get paid a draw until complete.

When is this project finishing?

So let's assume you walk with $160k in net proceeds from sale (and that is before you owe long term capital gains on sale), at 75% LTV, you can basically buy a $640k worth of property.  

That leaves me $10k short, which I could pay cash but fear I might be strapped buying our primary residence (203k project). 

You can also hold money for maintenance, capex, taxes, insurance, or other projected expenses.

It's the easiest way to try being a landlord without dealing with tricky renovation projects.