I see these four rentals providing us a regular stream of income during retirement. 

Who is providing the coverage.

@Phillip Rosin - Based on the info you provided, I recommend that you start with a Fix to Rent short term loan to purchase the property and rehab it, followed by a cash out refinance into our DSCR loan.

Like painting the old kitchen cabinets vs replacing them, or providing them with a small refrigerator instead of a decent standard size one.

They focus on the property’s income potential rather than your personal income, which is perfect for rentals.Tapping into Equity: Using the $80k in equity from your home could provide a substantial boost to your investment fund.

Try to narrow down your options to the top 3-4.

@Alex Johnson Detroit-Michigan falls in the middle of the pack regarding "tenant-friendly".As you start to build your Core Four, NEVER believe what people tell you unless they can explain it logically or provide 3rd party proof.Here's 3rd party proof that Michigan is in the middle of the pack:)https://realwealth.com/learn/landlord-friendly-states/https://www.lawdistrict.com/articles/most-renter-friendly-us...

Try to narrow down your options to the top 3-4.

Based on the Opex the seller's agent provided it's $134k which implies the Opex ratio is ~21%.

In that situation, if the tenant who leaves is the "primary income provider" and doesn't continue helping the tenant who remains, the tenant who stays may not be able to afford living there.