In addition to that, most buyers have a preference for placing their own tenants versus inheriting tenants, even if they just moved in.

The large institutional investors look at the comparable prices in an area (costs) and rents (income), they find the best properties that match the calculation then they go look at the property. 

Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending. www.biggerpockets.com/lendtolive.

Make those first investments cash flow, especially if you're using W2 income to get them going.5.

It didn't feel right to take the income so I am giving it all to him.

It also is worth approximately $140k more than my property is currently worth.My question: when evaluating renovations, is the math as simple as (Additional rent expected per month due to renovation * 12 months/yr)/total cost of renovation = ROI.

We currently have 3 mortgages but the 2 pay for themselves with rents and have been rented for over 2 years so we are able to use that income to offset those.

If I start with no money and no experience, how long should it take me to have enough income to replace my salary and retire?

Our team has assisted investors from Canada, the UK, Israel, China, Argentina and many other places do exactly what you are aiming to do.In addition, we can help you with finding great deals, point you in the direction of lenders if you need that, place you with one of our expert realtors, manage your rehab, and if you intend to hold we can provide Property management services,'Inbox me if you would like to discuss further-Leroy

Owning a rental property in Orlando is an excellent way to earn passive income and build wealth.